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TECHS: Focus Shifts To Support *RES...>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Focus Shifts To Support
*RES 4: 1.4349 High Mar 31
*RES 3: 1.4265 High Apr 21 and the bull trigger
*RES 2: 1.4198 High Apr 23
*RES 1: 1.4173 High May 7
*PRICE: 1.3942 @ 06:28 BST May 8
*SUP 1: 1.3925 Intraday low
*SUP 2: 1.3851 Low Apr 30 and bear trigger
*SUP 3: 1.3812 50.0% retracement of the rally between Jan 7 - Mar 19
*SUP 4: 1.3734 Low Mar 16
USDCAD reversed course yesterday following the rejection off the day high of
1.4173. This undermines the recent bullish theme. With the pair weaker
overnight, attention turns to support at 1.3851, Apr 30 low. A break of this
level would negate the recent positive focus and instead confirm a resumption of
reversal that started on Mar 19. A break lower would open 1.3812, a retracement
level. Clearance of 1.4173 is required to suggest bulls have returned.

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