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TECHS: Bullish Outlook *RES 4:........>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Bullish Outlook
*RES 4: 1.3205 High Dec 13
*RES 3: 1.3181 High Dec 20 and key resistance
*RES 2: 1.3172 50-dma
*RES 1: 1.3105 High Jan 9
*PRICE: 1.3072 @ 10:46 GMT Jan 14
*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
USDCAD has started the week on a quieter note and is consolidating. The
clearance last week though of 1.3042 and 1.3070 suggests a potential base at the
recent 1.2952 low from Dec 31. If correct, this signals scope for a recovery
above 1.3100 towards the 50-dma at 1.3171. A failure though to hold onto highs
and a return below 1.3000 would likely offset the bullish implications of recent
gains and expose key support at 1.2952. A break here would open 1.2917.

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