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TECHS: Struggling To Gain Traction....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Struggling To Gain Traction
Despite comfortably holding above 1.2900, USDCAD has so far failed to gain
traction with markets waiting for the next NAFTA headline. Bulls look for a
break back above the 50-dma at 1.3049 and 50% retracement level at 1.3101 to
return the focus to the upside and extend longer-term gains. Bears need a break
back under 1.2900 to challenge the Sep 20 low & 200-dma at 1.2885/66. Below here
would suggest a large topping pattern is unfolding, opening channel base support
at 1.2792.

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