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DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Recovers Off Support
*RES 4: 1.4265 High Apr 21 and the bull trigger
*RES 3: 1.4198 High Apr 23
*RES 2: 1.4173 High May 7 and key near-term resistance
*RES 1: 1.4096 High May 13
*PRICE: 1.4090 @ 16:53 BST May 13
*SUP 1: 1.3900 Low May 11
*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 traded higher for a second session Wednesday. The focus is on Fibonacci
retracements drawn from the March - April decline. The 23.6% retracement at
1.2341 has been cleared opening 1.4173, May 7 high and just above the 38.2%
retracement at 1.4163. A break of 1.4173 is required to also reinstate a bullish
theme and expose 1.4265, Apr 21 high. Firm support lies at 1.3900, May 11 low
and 1.3851, Apr 30 low.

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