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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: 1.3149 @ 16:30 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
For a second session, USDCAD stalled at the 1.3172 high. For now, bullish
conditions remain in place with scope seen for a climb towards 1.3181 and 1.3205
next. A break of Thursday's 1.3172 would confirm a resumption of strength. That
said, there is a warning for bulls. Thursday'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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