TECHS: Correction Underway, $1.2687...>

DOLLAR-CANADA: TECHS: Correction Underway, $1.2687 Break Allows Greater Gains

*RES 4: $1.2819/26 Apr 9 high, 50% Fibo of $1.3125-$1.2528

*RES 3: $1.2785 61.8% Fibo of $1.2944-$1.2528

*RES 2: $1.2756 38.2% Fibo of $1.3125-$1.2528

*RES 1: $1.2748 1% volatility band

*PRICE: $1.2734 @1445GMT

*SUP 1: $1.2665/75 Hourly support

*SUP 2: $1.2633 Intraday low

*SUP 3: $1.2586 Apr 19 low

*SUP 4: $1.2549 Apr 18 low

*COMMENTARY* The prospect of a head and shoulders top grew last week, failure

between $1.2815-$1.2820 the initial catalyst. This has subsequently seen a

decent fall 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 and with 1.2687 now broken, allows greater $1.2748-$1.2785 gains

next. Support moves up to $1.2675-$1.2665 and then the day's $1.2633 low.