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: $1.2314 1% volatility band

*RES 2: $1.2287 61.8% Fibo of $1.2426-$1.2061

*RES 1: $1.2246/52 Intraday high, hourly recovery high Sep 6

*PRICE: $1.2234 @1545GMT

*SUP 1: $1.2172 Intraday low

*SUP 2: $1.2121 Sep 15 low

*SUP 3: $1.2061 Sep 8 low

*SUP 4: $1.2050 50% Fibo of 0.9408-$1.4692

*COMMENTARY* 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. The recovery has been shallow so far, only recently

breaking above $1.2210-15 to a high of $1.2246. Require above $1.2252 however,

before confidence in a better $1.2287-$1.2340 recovery will appear. Meanwhile

support comes from the day's $1.2172 low and then $1.2121.