Uptrend in Loonie is slow but persistent. The pair has posted (yet another) new eleven-year high today, breaking above last Thursday's high by 15 pips before pulling back. The drivers remain weak commodities and general risk-off sentiment. Hawkish comments from Fed speakers yesterday didn't help it either.

First stronger intraday support is seen at 1.3385 - 1.3400 (00's, Previous Day High, Low Of Day) and then between 1.3335 and 1.3365 (Daily Pivot Point, 50's, 1.3345 pivot, Daily Resistance 1). There's quite a few resistance levels stacked up ahead of 61.8% retracement of the 2002 to 2007 decline (1.3470): Daily Resistance 1, Previous Week High, High Of Day, Weekly Resistance 1, Daily Resistance 2, 50's.

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