TECHS: Attempting To Sustain..........>

DOLLAR-CANADA: TECHS: Attempting To Sustain $1.2484 Break As Recovery Grows

*RES 4: $1.2590 Dec 29 high

*RES 3: $1.2556 Jan 4 high

*RES 2: $1.2514 Jan 5 high

*RES 1: $1.2484/95 Jan 9 high, intraday high

*PRICE: $1.2485 @1723GMT

*SUP 1: $1.2398/10 Jan 9 low, hourly support

*SUP 2: $1.2355/78 Jan 5 low, 1% volatility band, Jan 8 low 

*SUP 3: $1.2315 Max 5th wave tgt in fall from $1.2921

*SUP 4: $1.2264 76.4% Fibo of $1.2061-$1.2921

*COMMENTARY* Having survived a test to the base of the 3 week bear channel last

Friday, we have subsequently seen a slow recovery which currently is in the

process of trying to break above initial resistance of note at $1.2484. Will

need to sustain a move through here to generate further upside interest and a

better correction of recent losses from the mid December high at $1.2921. In the

interim, support from $1.2410-$1.2376 protects against a fresh downside push.