TECHS: $1.2530-40 Break Needed To.....>

DOLLAR-CANADA: TECHS: $1.2530-40 Break Needed To Instil Near Term Belief

*RES 4: $1.2641/44 Jul 20 high, 38.2% of $1.3016-$1.2414

*RES 3: $1.2609 Jul 21 high

*RES 2: $1.2577 Jul 27 high

*RES 1: $1.2530/40 Jul 28 hourly lows, now resistance

*PRICE: $1.2535 @1530GMT

*SUP 1: $1.2445/55 Hourly support

*SUP 2: $1.2393/14 1% volatility band, Jul 26 low

*SUP 3: $1.2360 Feb 2015 low

*SUP 4: $1.2313/19 1.618 swing $1.2414-$1.2577, 11 wk channel

*COMMENTARY* The decline last week broke below the 2.618 projection target at

$1.2485, then not giving the May 2016 low at $1.2461 a sideways glance, before

heading toward and slightly through the then 10 week bear channel base. Heavily

oversold as a result but the subsequent recovery has so far failed to maintain a

break back above $1.2530-40, thereby leaving the downside still in jeopardy.

$1.2445-55 now protects against a return to $1.2414 and perhaps lower.