TECHS: Recovery Shallow After Hold....>

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

*RES 4: $1.2340 Sep 1 low, 76.4% Fibo of $1.2426-$1.2061

*RES 3: $1.2287 61.8% Fibo of $1.2426-$1.2061

*RES 2: $1.2252 Hourly recovery high Sep 6

*RES 1: $1.2215 Intraday high

*PRICE: $1.2209 @1627GMT

*SUP 1: $1.2150/60 Hourly support

*SUP 2: $1.2131 Intraday low

*SUP 3: $1.2098 Sep 11 low

*SUP 4: $1.2050/61 50% Fibo of 0.9408-$1.4692, Sep 8 low

*COMMENTARY* Has found 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 just testing near term resistance from between $1.2180-$1.2210. Require a

sustained break above the latter before confidence in a better recovery of

losses, initially from Sep 4 high at $1.2426 can occur. Support $1.2160-$1.2131.