TECHS: Bullish Focus *RES 4: 1.3205...>

DOLLAR-CANADA: TECHS: Bullish Focus

*RES 4: 1.3205 High Dec 13

*RES 3: 1.3181 High Dec 20 and key resistance

*RES 2: 1.3166 50-dma

*RES 1: 1.3105 High Jan 9

*PRICE: 1.3045 @ 17:17 GMT Jan 16

*SUP 1: 1.3026 Low Jan 9

*SUP 2: 1.2976 Low Jan 8

*SUP 3: 1.2952 Low Dec 31 and bear trigger

*SUP 4: 1.2917 Low Oct 16

The USDCAD focus is on the upside following last week's break of resistance at

1.3042 and 1.3070. This highlights a potential base at the recent 1.2952 low

from Dec 31. If correct, recent price action signals scope for a recovery above

1.3100 towards the 50-dma at 1.3166. A failure to hold onto recent highs and a

return below 1.3000 would offset the bullish implications of recent gains and

expose key support at 1.2952. A break here would open 1.2917.