TECHS: Recovery Shallow After Hold....>

DOLLAR-CANADA: TECHS: Recovery Shallow After Hold Above Long Term Fibo Level

*RES 4: $1.2336 Sep 5 low, now resistance

*RES 3: $1.2252 Hourly recovery high Sep 6

*RES 2: $1.2205/10 Hourly basing Sep 6, now resistance

*RES 1: $1.2190 Sep 12 high

*PRICE: $1.2146 @1154GMT

*SUP 1: $1.2082/90 Sep 12 low, hourly support

*SUP 2: $1.2050/61 50% Fibo of 0.9408-$1.4692, Sep 8 low

*SUP 3: $1.2012/15 2% volatility band, May 18 2015 low

*SUP 4: $1.1981 1.618 swing of $1.2061-$1.2190

*COMMENTARY* Has continued to find support from above the long term Fibo retrace

level at $1.2050. This the 50% retrace level of the $0.9408-$1.4692 rise, seen

between July 2011 and January 2016. That said, the recovery has been shallow so

far, only breaking slightly above near term resistance from $1.2180, let alone

the more important $1.2205-10 area. WEhile this continues, $1.2090-$1.2061

protects $1.2050 and the added threat of a deeper $1.2012-$1.1981 fall.