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MNI

Ex-ECB Chief Economist Peter Praet Joins MNI

TECHS: $1.2927 Break Needed If........>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: $1.2927 Break Needed If Rally To Continue
*RES 4: $1.3006/16 2% volatility band, Jul 3 high
*RES 3: $1.2984 1.618 swing of $1.2917-$1.2808
*RES 2: $1.2969 Jan 31 low, now resistance
*RES 1: $1.2917/27 Oct 27 high, 50% Fibo of $1.3794-$1.2061
*PRICE: $1.2878 @1030GMT
*SUP 1: $1.2835 Hourly support
*SUP 2: $1.2807/08 23.6% Fibo of $1.2451-$1.2917, Oct 27 low
*SUP 3: $1.2781 Oct 26 low
*SUP 4: $1.2739 38.2% Fibo of $1.2451-$1.2917
*COMMENTARY* Friday saw a brief spike above the upper 2% volatility band, as the
upside moved to chase down the 50% Fibo retrace level at $1.2927. A high of
$1.2917 twice now, before succumbing to some overbought hourly conditions. Now
looking to $1.2807-$1.2781 support for next clues. While above, there is scope
to regroup and another attempt higher. Meanwhile, $1.2835 provides interim
support.