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TECHS: Bullish Engulfing Candle.......>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Bullish Engulfing Candle
*RES 4: 1.4349 High Mar 31 and the key bull trigger
*RES 3: 1.4299 High Apr 2
*RES 2: 1.4262 High Apr 6
*RES 1: 1.4143 High Apr 7
*PRICE: 1.4112 @ 10:46 BST Apr 16
*SUP 1: 1.4000 round number support
*SUP 2: 1.3856 Low Apr 13
*SUP 3: 1.3811/12 50-day EMA / 50.0% retracement of the Jan 20 - Mar 19 rally
*SUP 4: 1.3734 Low Mar 16
USDCAD is firmer. Wednesday's move potentially brings to an end the recent Mar
19 - Apr 13 bearish cycle. Yesterday's price action is a bullish engulfing
candle formation and highlights a reversal. Furthermore, support at 1.812, 50%
of the Jan 7 - Mar 19 rally has remained intact as has the 50-day EMA at 1.3811.
Unless USDCAD can break below Monday's low of 1.3856, the risk has increased
that prices will travel north near-term towards 1.4143 and 1.4262.

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