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USD/CAD has traded above C$1.3200.....>

DOLLAR-CANADA
DOLLAR-CANADA: USD/CAD has traded above C$1.3200 for the bulk of the session,
after printing a fresh 12-month high of C$1.3237 on Monday, although the pair
has failed to challenge that level thus far.
- Resistance is noted at the aforementioned YtD high followed by C$1.3259
(9-month bull channel projection), while support is noted between C1.3185/80.
- Sources have pointed to Canadian real money selling the cross over the last
week, conducting hedging ops, although the source suggests that the a/c's now
look a little over-hedged, and as a result they may have to buy the pair on
dips.
- CAD traders are focused on Friday with domestic CPI & retail sales data due,
as well as the OPEC+ summit in Vienna.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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