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DOLLAR-CANADA: TECHS: Remains Vulnerable Until 1.3042
*RES 3: 1.3103 Low Dec 18
*RES 2: 1.3070 High Dec 31
*RES 1: 1.3042 Low Oct 29
*PRICE: 1.3014 @ 17:29 GMT Jan 7
*SUP 1: 1.2952 Low Dec 31 and bear trigger
*SUP 2: 1.2917 Low Oct 16
*SUP 3: 1.2857 Low Oct 4, 2018
After consolidating for a number of sessions, USD/CAD broke higher Tuesday, but
the key resistance at 1.3042 has to give way to repair the short-term outlook.
This follows the recent strong sell-off that resulted in the clearance of the
1.3042 level, marking the Oct 29 low and 1.3016, Jul 19 low. Furthermore, 1.2991
has also been breached, the 76.4% retracement of the rally between Oct - Dec
2018. These breaks reinforce the current bearish theme with further weakness
likely. Attention is on 1.2917 next, Oct 16 low, 2018.