TECHS: Begins Correction Of Recent....>

DOLLAR-CANADA: TECHS: Begins Correction Of Recent $1.2451-$1.2917 Gains

*RES 4: $1.2862 Oct 30 high, hourly high Nov 2

*RES 3: $1.2836 Intraday high

*RES 2: $1.2799/08 Nov 2, Oct 27 lows

*RES 1: $1.2760/65 Hourly resistance

*PRICE: $1.2725 @1313GMT

*SUP 1: $1.2684 50% Fibo of $1.2451-$1.2917

*SUP 2: $1.2664 1% volatility band

*SUP 3: $1.2629/34 61.8% of $1.2451-$1.2917, Oct 25 low

*SUP 4: $1.2600 Oct 6 high, now support

*COMMENTARY* Last week saw a brief spike above the upper 2% volatility band, as

the upside moved toward the 50% Fibo retrace level at $1.2927. A high of $1.2917

twice, before succumbing to some overbought hourly conditions. Has now broken

below $1.2799-$1.2781 support which opens up corrective potential of recent

gains from $1.2451. So look to $1.2684-$1.2664 for the next downside target

zone. Resistance $1.2760-65 and then the $1.2799-$1.2808 previous lows.