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TECHS: Shooting Star Top? *RES 4:.....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Shooting Star Top?
*RES 4: 1.3270 High Dec 6
*RES 3: 1.3239 76.4% retracement of the Nov 20 - Dec 31 decline
*RES 2: 1.3205 High Dec 13
*RES 1: 1.3172/81 High Jan 23 / High Dec 20 and key resistance
*PRICE: 1.3129 @ 06:24 GMT Jan 24
*SUP 1: 1.3105 High Jan 9 and former breakout level
*SUP 2: 1.3026 Low Jan 9
*SUP 3: 1.2976 Low Jan 8
*SUP 4: 1.2952 Low Dec 31 and bear trigger
USDCAD found strong resistance at yesterday's 1.3172 high and closed down on the
day. For now, bullish conditions remain in place with scope seen for a climb
towards 1.3181 and 1.3205 next. A break of yesterday's 1.3172 high would confirm
a resumption of strength. That said, there is a warning for bulls. Yesterday's
candle pattern is a shooting star (inverted hammer) and signals a possible
developing top. We will monitor this closely. 1.3026 is initial support.

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