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DOLLAR-CANADA: TECHS: $1.2921-$1.2877 Next Supports After $1.3000 Gives Way
*RES 4: $1.3087 Selection of hourly highs Mar 20
*RES 3: $1.3047/59 Mar 19, Mar 20 lows, now resistance
*RES 2: $1.3010/30 Intraday hourly congestion area
*RES 1: $1.2990/95 Hourly resistance
*PRICE: $1.2953 @1541GMT
*SUP 1: $1.2921 Mar 14 low
*SUP 2: $1.2877 Initial recovery high Mar 13, now support
*SUP 3: $1.2843 1% volatility band
*SUP 4: $1.2803 Mar 12 low
*COMMENTARY* The rally through $1.3000 continued Monday, reaching $1.3125, the
swing target of the recent $1.3002-$1.2803 fall. This left us just shy of the
61.8% Fibo retrace level at $1.3132 and the 2 year falling resistance line at
$1.3177. Became overbought in the near term, resulting in a loss of key $1.3001
support today. This now sees the Mar 14 low at $1.2921 and particularly $1.2877
as next important supports. Meanwhile, $1.2990-$1.3033 becomes resistance.