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TECHS: Takes Out 1.35 CAD is back.....>

CAD is back on the defensive alongside weaker oil futures. USDCAD took out the
previously hard to overcome 1.35 level, before fading around down trendline
resistance off the Jan highs. A close above 1.3505 would cement the uptrend and
put the focus back on the Apr 21 high at 1.3521. Further resistance is located
at 1.3565/70 which registered a series of previous lows through Dec - Jan. Bears
need to clear the 21-dma and 1.3400 level to return the focus to the May 1 low &
100-dma at 1.3377/47.

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