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DOLLAR-CANADA: TECHS: Weak Rally
*RES 3: 1.4048 High May 25 and key near-term resistance
*RES 2: 1.3986 High May 26
*RES 1: 1.3867 Low May 19
*PRICE: 1.3821 @ 17:13 BST May 29
*SUP 1: 1.3728 Low May 27
*SUP 2: 1.3682 Low Mar 11
*SUP 3: 1.3611 61.8% retracement of the rally between Jan 7 - Mar 19
Despite a late rally in the pair, the gains were insufficient to turn the tables
following the sharp sell-off earlier in the week. This leaves USDCAD fragile
after trading below the former key support at 1.3851, Apr 29 low to signal a
resumption of the retracement that started on Mar 19 off 1.4668. Tuesday's price
action also cleared the 50-day EMA at 1.3953, reinforcing the developing bearish
theme. The focus turns to 1.3682, Mar 11 low and 1.3611 further out, a
retracement level. 1.4048, May 22 high is firm resistance.