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DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Correction Or A Reversal?
*RES 3: 1.3500 Round number resistance
*RES 2: 1.3465 High Feb 28 and key resistance
*RES 1: 1.3441 High Mar 2
*PRICE: 1.3372 @ 17:52 GMT Mar 3
*SUP 1: 1.3315 Low Mar 2
*SUP 2: 1.3267 Low Feb 25
*SUP 3: 1.3244 Trendline support drawn off the Jan 7 low
After trading sharply lower Monday, extending the pullback off Friday's high of
1.3465, USD/CAD is now falt. Whether a reversal is unfolding is too early to
tell and attention shifts to support at 1.3317 which was probed briefly Monday.
A clear break would open 1.3267, Feb 25 low ahead of the key trendline support
at 1.3244. The trendline is drawn off the Jan 7 low. A breach of the trendline
would be bearish. On the upside, key resistance and the bull trigger is at
1.3465.

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