TECHS: Recovery Breaks Feb 9 High.....>

DOLLAR-CANADA: TECHS: Recovery Breaks Feb 9 High And Tests Upper 1% Vol Band

*RES 4: $1.2921 Dec 19 high

*RES 3: $1.2837/39 1.618 swing $1.2689-$1.2450, 2% vol band

*RES 2: $1.2762 76.4% Fibo of $1.2921-$1.2249

*RES 1: $1.2714 1% volatility band

*PRICE: $1.2680 @1045GMT

*SUP 1: $1.2645/55 Hourly support

*SUP 2: $1.2625 Feb 21 low

*SUP 3: $1.2580/85 Congestion area Feb 19-20

*SUP 4: $1.2557/68 Feb 16 high, hourly basing Feb 19 

*COMMENTARY* After initially probing towards the Feb 9 high at $1.2689 on

Wednesday, had to endure a sharp $1.2625 setback, before regrouping for another

challenge. This has resulted in a $1.2713 high so far today, basically in line

with that old friend the upper 1% volatility band. Will need to escape it's

clutches before the way will become clear for a further $1.2762-$1.2837 rise.

Meanwhile, $1.2655-$1.2645 supports ahead of that $1.2625 level.