TECHS: Consolidating But Remains......>

DOLLAR-CANADA: TECHS: Consolidating But Remains Heavy

*RES 4: 1.4198 High Apr 23

*RES 3: 1.4173 High May 7 and key near-term resistance

*RES 2: 1.4141 High May 14

*RES 1: 1.3970 High May 19

*PRICE: 1.3936 @ 06:12 BST May 21

*SUP 1: 1.3867 Low May 19

*SUP 2: 1.3851 Low Apr 30 and bear trigger

*SUP 3: 1.3812 50.0% retracement of the rally between Jan 7 - Mar 19

*SUP 4: 1.3734 Low Mar 16

USDCAD traded sharply lower Monday and extended the move Tuesday. This follows a

failure to challenge 1.4173, May 7 high. A break of this resistance is still

required to fully reinforce bullish conditions. Note, a breach would confirm a

break of 38.2% of the Mar 19 - Apr 30 sell-off, at 1.4163 reinforcing a positive

outlook and would open 1.4265, Apr 21 high. Firm support is at 1.3900, May 11

low and 1.3851, Apr 30 low. Clearance of the latter would be bearish.