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TECHS: Rally Edges Through............>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Rally Edges Through $1.2585-$1.2591 Resistance
*RES 4: $1.2762 76.4% Fibo of $1.2921-$1.2249
*RES 3: $1.2664/66 61.8% Fibo of $1.2921-$1.2249, 2% vol band
*RES 2: $1.2624 Dec 5 low, now resistance
*RES 1: $1.2591/98 Jan 11, intraday highs
*PRICE: $1.2589 @1110GMT
*SUP 1: $1.2515/30 Hourly support
*SUP 2: $1.2491 Feb 6 low
*SUP 3: $1.2465 Hourly base Feb 5
*SUP 4: $1.2451 Feb 2 high, now support
*COMMENTARY* The recovery continues apace this week, the latest rise to $1.2598,
takes us just through the 50% Fibo retrace level at $1.2585 and the Jan 11 high
at $1.2591. A sustained move higher will see the Dec 5 low at $1.2624 and then
the $1.2664-$1.2666 region as the next potential targets above. As a result,
support rises to $1.2530-$1.2515 but only a loss of Tuesday's $1.2491 low will
cause any near term panic.

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