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TECHS: Close Below $1.2418 To.........>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Close Below $1.2418 To Target C$1.2232
*RES 4: C$1.2680 - Daily Bull channel top 
*RES 3: C$1.2662 - High Aug 31 
*RES 2: C$1.2594 - High Oct 9 
*RES 1: C$1.2490 - High Oct 12
*PRICE: C$1.2470 @ 0930GMT
*SUP 1: C$1.2427 - 21-DMA 
*SUP 2: C$1.2421 - Daily Bull channel base 
*SUP 3: C$1.2418 - Lows Sept 28 & 29 
*SUP 4: C$1.2232 - Low Sept 20
*COMMENTARY: The pair remains heavy with pressure having returned to layers of
support C$1.2418-27 where the daily bull channel base and 21-DMA are situated.
Bears now look for a close below C$1.2418 to end bullish hopes and shift
immediate focus to tests of the C$1.2232 Sept 20 low. Momentum has corrected
back to more neutral levels increasing the significance of the supports. Bulls
now need a close above C$1.2490 to ease bearish pressure.

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