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DOLLAR-CANADA: TECHS: $1.2340 Resistance Becomes Pivotal To Direction
*RES 4: $1.2492 Sep 1 high
*RES 3: $1.2433 61.8% of $1.2663-$1.2061, 2% volatility band
*RES 2: $1.2414 Jul 26, Jul 17 lows
*RES 1: $1.2340 Sep 1 low, 76.4% Fibo of $1.2426-$1.2061
*PRICE: $1.2297 @1205GMT
*SUP 1: $1.2255/60 Hourly support
*SUP 2: $1.2219 Sep 15 high, now support
*SUP 3: $1.2172 Sep 18 low
*SUP 4: $1.2121 Sep 15 low
*COMMENTARY* The recovery has finally found the strength to move through
$1.2220-$1.2240 resistance. In fact the subsequent rally has made it straight up
to the next key resistance area at $1.2340. This now becomes pivotal to overall
direction. while it caps then momentum still remains with the downside and look
to a gradual return lower, $1.2260-$1.2219 initial support, Monday's $1.2172
base below. Directly above $1.2340 and $1.2414-$1.2433 the next targets.