TECHS: Decline Sees Congested.........>

DOLLAR-CANADA: TECHS: Decline Sees Congested Support Above $1.2600

*RES 4: $1.2837 Nov 21 high

*RES 3: $1.2804 Hourly low Nov 29, now resistance

*RES 2: $1.2750 Hourly resistance

*RES 1: $1.2727 Hourly recovery high Dec 4

*PRICE: $1.2664 @1007GMT

*SUP 1: $1.2652 Intraday low

*SUP 2: $1.2625 1% volatility band

*SUP 3: $1.2614/18 Oct 23 low, 61.8% of $1.2433-$1.2917

*SUP 4: $1.2600 Oct 6 high, now support

*COMMENTARY* The congested $1.2909-$1.2938 area proved a bridge too far for the

recovery last week. The first sign of weakness was the slip back below $1.2837,

this suggested that we were ready for a correction of gains from at least last

week's $1.2673 low. The further loss of $1.2715 then caused further concerns,

once again exposing the $1.2666 area. Sustained loss here would switch focus

back on $1.2600-$1.2547. Back above $1.2727-50 needed to provide some relief.