TECHS: Correction Underway, $1.2687...>

DOLLAR-CANADA: TECHS: Correction Underway, $1.2687 The Bar To Greater Gains

*RES 4: $1.2756 50% Fibo of $1.3125-$1.2528

*RES 3: $1.2743 1% volatility band

*RES 2: $1.2733/36 Apr 6 low, 50% Fibo of $1.2944-$1.2528

*RES 1: $1.2687 Apr 9 low, 38.2% Fibo of $1.2944-$1.2528

*PRICE: $1.2678 @0936GMT

*SUP 1: $1.2610/20 Hourly support

*SUP 2: $1.2586 Apr 19 low

*SUP 3: $1.2549 Apr 18 low

*SUP 4: $1.2528 Apr 17 low

*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. The resultant rally is correcting some of the most recent

losses from $1.2819-$1.2944, with $1.2687 presently in the way of any greater

gains. Support moves up to $1.2620-$1.2586 ahead of Wednesday's $1.2549 low.