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TECHS: Downside Back In Trouble,......>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Downside Back In Trouble, $1.2426-$1.2414 Support 
*RES 4: $1.2609 Jul 21 high
*RES 3: $1.2577 Jul 27 high
*RES 2: $1.2530/35 Intraday hourly lows, now resistance
*RES 1: $1.2475/80 Hourly resistance
*PRICE: $1.2430 @1645GMT
*SUP 1: $1.2414/26 Jul 26 low, 10 week bear channel base 
*SUP 2: $1.2360 Feb 2015 low
*SUP 3: $1.2313 1.618 swing of $1.2414-$1.2577
*SUP 4: $1.2299 2% volatility band
*COMMENTARY* The decline this week broke below the 2.618 projection target at
$1.2485, then not giving the May 2016 low at $1.2461 a sideways glance, before
heading toward and slightly through the 10 week bear channel base. Heavily
oversold as a result but the subsequent recovery has failed to maintain a break
above $1.2544, thereby putting the downside back in jeopardy. $1.2414-26
continues to protect against a deeper $1.2360-$1.2313 fall.

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