Dollar Canada Outlook

From the FXWW Chatroom: Les Castell, MNI Tech Analyst notes that C$1.2764 is the 61.8%
retracement of the C$1.2461-1.3253 rise seen since May this year. A break below
and the 2% vol band(around 10-dma) at C$1.2728 provides back up and protection
against a further fall to Jun23 low at 1.2679. The Jun8 low and 76.4% retrace
are at C$1.2655 and C$1.2648 respectively. Rate seen needing to break back above
C$1.2825-35 to remove immediate downside pressure. Through here and
C$1.2880-1.2915 is next challenge.

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