TECHS: Collapses After Reaching.......>

DOLLAR-CANADA: TECHS: Collapses After Reaching $1.2909-$1.2938 Area

*RES 4: $1.2855 Initial intraday pullback low

*RES 3: $1.2837 Nov 21 high

*RES 2: $1.2804 Hourly low Nov 29, now resistance

*RES 1: $1.2745/50 Hourly resistance

*PRICE: $1.2724 @1755GMT

*SUP 1: $1.2666/73 Nov 10, Nov 23 lows

*SUP 2: $1.2648 1% volatility band

*SUP 3: $1.2614/18 Oct 23 low, 61.8% of $1.2433-$1.2917

*SUP 4: $1.2600 Oct 6 high, now support

*COMMENTARY* The congested $1.2909-$1.2938 area proved a bridge too far for this

week's recovery. The first sign of intraday weakness was the slip back below

$1.2837, this suggested that we were ready for a correction of gains from last

week's $1.2673 low. The likely target then became the congested $1.2715 area but

this has also been lost, as we head back towards $1.2673-$1.2666. Resistance,

$1.2745-50, back above the latter would provide some relief.