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DOLLAR-CANADA: TECHS: $1.2805-$1.2775 Forms Key Near Term Support
*RES 4: $1.2941/44 Mar 29, Apr 2 highs
*RES 3: $1.2916 2% volatility band
*RES 2: $1.2897 61.8% Fibo of $1.3125-$1.2528
*RES 1: $1.2862 Intraday high
*PRICE: $1.2830 @0911GMT
*SUP 1: $1.2795/05 Hourly support
*SUP 2: $1.2775 Hourly base Apr 23
*SUP 3: $1.2718/25 Hourly basing area Apr 20
*SUP 4: $1.2676/86 Apr 19 high, initial rally high Apr 20
*COMMENTARY* The rally has extended through the potentially troublesome
$1.2846-$1.2848 region, a high of $1.2862 seen so far, before becoming
overbought in the near term. As a consequence, looking to $1.2805-$1.2775 to
form support, if a further rise is to happen at this juncture. If so, then look
to the 61.8% Fibo retrace level at $1.2897 next, ahead of the 2% volatility band
at $1.2916. Loss of $1.2775 will open up a correction of gains from $1.2528.