TECHS: $1.2535-40 Break The Key To....>

DOLLAR-CANADA: TECHS: $1.2535-40 Break The Key To A Better Recovery

*RES 4: $1.2650 61.8% Fibo of $1.2779-$1.2441

*RES 3: $1.2599/08 Aug 23, Aug 21 highs

*RES 2: $1.2575 Congestion area Aug 21-23

*RES 1: $1.2535/40 Aug 28, Aug 25 highs

*PRICE: $1.2537 @1621GMT

*SUP 1: $1.2460/70 Hourly support

*SUP 2: $1.2432/41 1% volatility band, Aug 28-29 lows

*SUP 3: $1.2414 Jul 26, Jul 27 lows

*SUP 4: $1.2383 1.618 projection target from $1.2692

*COMMENTARY* Failure to move above $1.2535-40 has instigated a fresh challenge

lower today but so far this holds $1.2441 again and also above the lower 1%

volatility band at $1.2432. These now seen as the protection against a further

trip down to the late July low at $1.2414. In the meantime, $1.2515 provides

immediate resistance, that $1.2535-$1.2540 area higher. Probably need back above

here, before things can really improve.