TECHS: Consolidation Continues With...>

DOLLAR-CANADA: TECHS: Consolidation Continues With Near Term Downside Bias

*RES 4: $1.2590/91 Dec 29, Jan 11 highs

*RES 3: $1.2556 Jan 12 high

*RES 2: $1.2542 Jan 17 high

*RES 1: $1.2509 Jan 19 high

*PRICE: $1.2453 @1655GMT

*SUP 1: $1.2425 Hourly support

*SUP 2: $1.2393/00 Jan 16, Jan 18 lows

*SUP 3: $1.2355 Jan 5 low

*SUP 4: $1.2340 1% volatility band

*COMMENTARY* Consolidation continues as we try to correct losses from the Jan 11

high at $1.2591. Currently has $1.2509-$1.2556 in the way of another challenge

to that high. As a result, support also rises, $1.2425 now offering initial

protection, $1.2400-$1.2393 providing a more important area below. Have to stay

above the latter or bias will again return lower, leaving the Jan 5 low at

$1.2355 vulnerable again, ahead of the 1% volatility band at $1.2340.