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

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: 1.3062 @ 16:37 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.