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TECHS: Close Below Channel Base To....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Close Below Channel Base To Target C$1.2232
*RES 4: C$1.2665 - Daily Bull channel top 
*RES 3: C$1.2662 - High Aug 31 
*RES 2: C$1.2594 - High Oct 9 
*RES 1: C$1.2485 - Low Oct 10 now resistance
*PRICE: C$1.2455 @ 0930GMT
*SUP 1: C$1.2418 - Lows Sept 28 & 29 
*SUP 2: C$1.2412 - 21-DMA 
*SUP 3: C$1.2405 - Daily Bull channel base 
*SUP 4: C$1.2232 - Low Sept 20
*COMMENTARY: The pair remains heavy with pressure having returned to layers of
support C$1.2405-18 where the daily bull channel base and 21-DMA are situated.
Bears continue to look for a close below the daily bull channel base to end
bearish 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 need a close above C$1.2485 to ease bearish pressure.

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