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TECHS: Recovering Off Recent Lows.....>

DOLLAR-CANADA: TECHS: Recovering Off Recent Lows
*RES 4: 1.4265 High Apr 21 and the bull trigger
*RES 3: 1.4198 High Apr 23
*RES 2: 1.4121 High Apr 27
*RES 1: 1.4073 High Apr 28
*PRICE: 1.4037 @ 10:49 BST May 1
*SUP 1: 1.3930 Intraday low
*SUP 2: 1.3851 Low Apr 30 and bear trigger
*SUP 3: 1.3813 50.0% retracement of the rally between Jan 7 - Mar 19
*SUP 4: 1.3734 Low Mar 16
USDCAD yesterday tested below but failed to convincingly break the bear trigger
at 1.3856, Apr 13 low. The subsequent bounce is potentially an important bullish
outcome in that the pair has also managed to find support at the 50-day EMA
around 1.3896. Even though price traded through the average, an inability to
extend the downside so far is a bullish signal. A climb would open 1.4121, Apr
27 next. Key support and the bear trigger has been defined at 1.3851.

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