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TECHS: Correction Reaches $1.2542.....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Correction Reaches $1.2542 Before Giving Up Ground
*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: $1.2495/05 Hourly resistance
*PRICE: $1.2434 @1046GMT
*SUP 1: $1.2397/03 Jan 16 low, hourly support
*SUP 2: $1.2355 Jan 5 low
*SUP 3: $1.2330 1% volatility band
*SUP 4: $1.2264 76.4% Fibo of $1.2061-$1.2921
*COMMENTARY* Early downside pressure saw a dip to $1.2364 on Wednesday as we
strive to maintain a break below $1.2411 Fibo support. Unable to do this as yet,
the bounce back above $1.2472 resistance has allowed a greater correction of
losses from the Jan 11 high at $1.2591, with a high of $1.2542 on the day.
Meanwhile $1.2403-$1.2397 protects against another push lower, $1.2355 still the
brake to a deeper $1.2330-$1.2264 fall.

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