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The risk averse theme amid the........>

DOLLAR-CANADA
DOLLAR-CANADA: The risk averse theme amid the backdrop of lower oil prices has
seen USDCAD extend gains through the 38.2% retracement level to C$1.3343. An
improving technical picture is generating outright bullish momentum, according
to the MNI FX Technical Signal Monitor. A close today above the 55-dma & cloud
top at $1.3344 would suggest a resumption of the uptrend with bulls targeting
the Jan 7 high at C$1.3391, ahead of a run at the C$1.34 level. EURCAD cleared
the 100-dma (C$1.5922) to C$1.5153 with next resistance at C$1.5190/93 from the
Dec 18 low & 200-dma, above here opens the Jan 11 high & 38.2% retracement of
2018 range at C$1.5265/94.  

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