TECHS: Recovery Falters Around Key....>

DOLLAR-CANADA: TECHS: Recovery Falters Around Key $1.2820 Level

*RES 4: $1.2917/27 Oct 27 high, 50% of $1.3794-$1.2061

*RES 3: $1.2873 1% volatility band

*RES 2: $1.2856/60 76.4% of $1.2917-$1.2666

*RES 1: $1.2820/24 Nov 7 high, 61.8% Fibo, Nov 17 high

*PRICE: $1.2798 @1700GMT

*SUP 1: $1.2755 Hourly support

*SUP 2: $1.2740 76.4% Fibo of $1.2714-$1.2824

*SUP 3: $1.2714 Nov 17 low

*SUP 4: $1.2666 Nov 10 low

*COMMENTARY* The recovery from the month's earlier $1.2666 low eventually made

it to $1.2824 last Friday, just above the Nov 7 high and 61.8% Fibo retrace

level at $1.2820. Has subsequently retreated, aided by some near term overbought

conditions. The $1.2755-$1.2740 area now becomes the support  to watch, needing

a hold here and then break back above $1.2820-24, if the rally is to continue.

Loss will caution and eventually see pressure return to $1.2714-$1.2666.