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

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

*RES 4: $1.2855 Initial pullback low Dec 1

*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: $1.2686 @1100GMT

*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 the

recovery. The first sign of weakness was the slip back below $1.2837, this

suggested that we were ready for a correction of gains from at least last week's

$1.2673 low. The further loss of $1.2715 then caused further concerns, once

again exposing the $1.2673-$1.2666 area. Loss would switch focus back on

$1.2600-$1.2547. Back above $1.2745-50 needed to provide some relief.