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TECHS: Correction Underway,...........>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Correction Underway, $1.2660-$1.2687 Next Resistance
*RES 4: $1.2748 1% volatility band
*RES 3: $1.2733/36 Apr 6 low, 50% Fibo of $1.2944-$1.2528
*RES 2: $1.2687 Apr 9 low, 38.2% Fibo of $1.2944-$1.2528
*RES 1: $1.2660 Apr 18 high
*PRICE: $1.2620 @0951GMT
*SUP 1: $1.2575/85 Hourly support
*SUP 2: $1.2549 Apr 18 low
*SUP 3: $1.2528 Apr 17 low
*SUP 4: $1.2495 1% volatility band
*COMMENTARY* The prospect of a head and shoulders top grew last week, failure at
$1.2815-$1.2820 the initial catalyst. This has subsequently seen various
supports give way and result in a low of $1.2528 and a test to the lower 1%
volatility band this week. The resultant rally is correcting some of the recent
losses from $1.2819-$1.2944, with $1.2660-$1.2687 presently in the way of any
greater gains. Support moves up to $1.2575 and then yesterday's $1.2549 low.

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