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USDCAD has traded above 1.3200 for....>

DOLLAR-CANADA
DOLLAR-CANADA: USDCAD has traded above 1.3200 for the bulk of the session, after
printing a fresh 12-month high of 1.3237 on Monday.
- 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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