TECHS: Recovers Well But Falters......>

DOLLAR-CANADA: TECHS: Recovers Well But Falters Below Pivotal $1.2994 Level

*RES 4: $1.3120/25 2 1/2 year falling res line, Mar 19 high

*RES 3: $1.3034/47 1% volatility band, May 29 high

*RES 2: $1.3020 Hourly recovery high May 30

*RES 1: $1.2994 Initial pullback low May 30, now rest'ce

*PRICE: $1.2961 @1650GMT

*SUP 1: $1.2925 Hourly support

*SUP 2: $1.2895 Hourly recovery high May 30, now support

*SUP 3: $1.2859 Initial intraday recovery high, now support

*SUP 4: $1.2818/26 Intraday low, May 23, 30 lows 

*COMMENTARY* Tuesday's $1.3047 rally took us towards the 2 1/2 year falling

resistance line, depending how you look at it. $1.3043 on the weekly chart,

$1.3048 on a daily basis and $1.3120 monthly wise. No doubting it was overbought

near term having tested the $1.3038 swing target and the upper 1% volatility

band. The subsequent decline has been swifter than anticipated, $1.2826-$1.2804

the next area of support. Back through $1.2915 has assisted, $1.2994 above.