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DOLLAR-CANADA: TECHS: Consolidating But Remains Vulnerable
*RES 4: 1.3181 High Dec 20 and key resistance
*RES 3: 1.3103 Low Dec 18
*RES 2: 1.3070 High Dec 31
*RES 1: 1.3042 Low Oct 29
*PRICE: 1.2970 @ 16:38 GMT Jan 6
*SUP 1: 1.2952 Low Dec 31 and bear trigger
*SUP 2: 1.2917 Low Oct 16
*SUP 3: 1.2857 Low Oct 4, 2018
*SUP 4: 1.2783 Low Oct 1, 2018
USDCAD is consolidating but remains vulnerable. This follows the recent strong
sell-off that resulted in the clearance of key support at 1.3042, Oct 29 low and
1.3016, Jul 19 low. Furthermore, 1.2991 has also been breached, the 76.4%
retracement of the rally between Oct - Dec 2018. These breaks reinforce the
current bearish theme with further weakness likely. Attention is on 1.2917 next,
Oct 16 low, 2018. On the upside, 1.3042 is resistance.