TECHS: Recovery Hits A Wall At........>

DOLLAR-CANADA: TECHS: Recovery Hits A Wall At Previous $1.2590 High

*RES 4: $1.2698/05 Dec 22 low, 61.8% Fibo of $1.2921-$1.2355

*RES 3: $1.2620/38 1% vol band, 50% Fibo of $1.2921-$1.2355

*RES 2: $1.2590/91 Dec 29, Jan 11 highs

*RES 1: $1.2560/70 Hourly resistance

*PRICE: $1.2520 @1027GMT

*SUP 1: $1.2495 Initial recovery high Jan 10, now support

*SUP 2: $1.2465/75 Congestion area Jan 9-10

*SUP 3: $1.2416/27 Initial high Jan 5, Jan 10 low

*SUP 4: $1.2371 1% volatility band

*COMMENTARY* Having survived a test to the base of the 3 week bear channel last

Friday, Wednesday saw the recovery accelerate, after returning above the 3 week

channel top earlier in the day. A high of $1.2591 attained so far, just above

the last high of note on Dec 29. Not surprisingly has become overbought in the

near term, $1.2495 providing an immediate support area. Loss of $1.2465 would

concern now. Above $1.2591 and the 1% volatility band provides next test.