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TECHS: Accelerates After Return.......>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Accelerates After Return Above 3 Week Bear Channel
*RES 4: $1.2755 2% volatility band
*RES 3: $1.2698/05 Dec 22 low, 61.8% Fibo of $1.2921-$1.2355
*RES 2: $1.2630/38 1% vol band, 50% Fibo of $1.2921-$1.2355
*RES 1: $1.2590/91 Dec 29, intraday highs
*PRICE: $1.2561 @1040GMT
*SUP 1: $1.2520/30 Hourly support
*SUP 2: $1.2495 Initial recovery high Jan 10, now support
*SUP 3: $1.2465/75 Congestion area Jan 9-10
*SUP 4: $1.2427 Jan 10 low
*COMMENTARY* Having survived a test to the base of the 3 week bear channel last
Friday, yesterday saw the recovery accelerate, after returning above the 3 week
channel top earlier in the day. A high of $1.2591 attained so far, just above
the last high of note on Dec 29. Not surprisingly has become overbought in the
near term, $1.2530-$1.2495 providing an immediate support area. Loss of $1.2465
would concern now. Above $1.2591 and the 1% volatility band provides next test.

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