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TECHS: In Sell Rallies Mode *RES 4:...>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: In Sell Rallies Mode
*RES 4: 1.3383 High Sep 3
*RES 3: 1.3331 61.8% retracement of the Jun - Dec decline
*RES 2: 1.3329 High Feb 10 and key resistance
*RES 1: 1.3296 High Feb 2
*PRICE: 1.3232 @ 17:03 GMT Feb 19
*SUP 1: 1.3215 Low Feb 19
*SUP 2: 1.3191 Low Jan 30
*SUP 3: 1.3172 Trendline support drawn off the Jan 7 low
*SUP 4: 1.3155 Low Jan 28 and 29
Having found resistance Tuesday, the bearish trend resumed, taking out the early
February lows in the process. This signals the onset of a correction that has
scope to extend towards 1.3191, the Jan 30 low. This is allowing a recent
overbought condition to unwind. Note that trendline support lies at 1.3172,
drawn off the Jan 7 low. Initial resistance is seen at 1.3296, Feb 12 high.

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