TECHS: Decline Tests Lower 1%.........>

DOLLAR-CANADA: TECHS: Decline Tests Lower 1% Volatility Band

*RES 4: $1.2435 Jan 22 low, now resistance

*RES 3: $1.2392/00 Jan 25 high, Jan 19 low

*RES 2: $1.2355/65 Congestion area Jan 26-30

*RES 1: $1.2336/48 Hourly resistance, Jan 31 high

*PRICE: $1.2299 @1038GMT

*SUP 1: $1.2244/49 1% volatility band, Jan 31 low

*SUP 2: $1.2214 1.618 swing of $1.2282-$1.2392

*SUP 3: $1.2209 1.618 swing of $1.2355-$1.2591

*SUP 4: $1.2130 2% volatility band

*COMMENTARY* The decline continued on Wednesday, having failed to make any

inroads into $1.2400 resistance. Last week's $1.2282 low gave way, as did the

76.4% Fibo retrace level at $1.2264. Eventually found a base at $1.2249, in line

with the lower 1% volatility band. This protecting the downside from a further

fall towards two $1.2214-$1.2209 swing targets. Resistance meantime, comes from

$1.2336-$1.2348 and then the congested $1.2355-$1.2365 area.