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TECHS: Needs to Bounce *RES 3:........>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Needs to Bounce
*RES 3: 1.4265 High Apr 21 and the bull trigger
*RES 2: 1.4198 High Apr 23
*RES 1: 1.4173 Intraday high
*PRICE: 1.3989 @ 16:40 BST May 7
*SUP 1: 1.3982 Low May 7
*SUP 2: 1.3930/25 Low May 1 / 50-day EMA
*SUP 3: 1.3851 Low Apr 30 and bear trigger
USDCAD traded well through the 1.40 support Thursday, tarnishing but not quite
reversing the bullish theme following last week's failure to convincingly break
1.3856, Apr 13 low. The subsequent bounce is likely an important bullish
development. Note too that the pair has managed to find support at the 50-day
EMA. Scope is seen for a climb towards key resistance at 1.4265, Apr 21 high. A
break would open 1.4349, Mar 31 high. Key support has been defined at 1.3851,
Apr 30 low.

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