TECHS: $1.2484 Resistance As..........>

DOLLAR-CANADA: TECHS: $1.2484 Resistance As Recovery Attempt Grows

*RES 4: $1.2590 Dec 29 high

*RES 3: $1.2556 Jan 4 high

*RES 2: $1.2514 Jan 5 high

*RES 1: $1.2478/84 Jan 9 high, initial low Jan 5

*PRICE: $1.2462 @1029GMT

*SUP 1: $1.2398/10 Jan 9 low, hourly support

*SUP 2: $1.2355/78 Jan 5 low, 1% volatility band, Jan 8 low 

*SUP 3: $1.2315 Max 5th wave tgt in fall from $1.2921

*SUP 4: $1.2264 76.4% Fibo of $1.2061-$1.2921

*COMMENTARY* Having survived a test to the base of the 3 week bear channel last

Friday, we have subsequently seen a slow recovery which so far remains below the

initial resistance of note at $1.2484. Will need back through here to generate

further upside interest and a better correction of recent losses from the mid

December high at $1.2921. In the interim, support from $1.2410-$1.2372 protects

against a fresh downside push with $1.2315-$1.2264 the targets below $1.2355.