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TECHS: Retracing Last Weeks Gains.....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Retracing Last Weeks Gains
*RES 4: 1.3300 High Oct 11
*RES 3: 1.3240 High Oct 15
*RES 2: 1.3212 High Oct 17
*RES 1: 1.3199/1.3208 100-DMA / High Oct 30
*PRICE: 1.3116 @ 10:40 GMT Nov 5
*SUP 1: 1.3075 Low Oct 30
*SUP 2: 1.3042 Low Oct 29 and initial key support
*SUP 3: 1.3016 Low Jul 19 and major support
*SUP 4: 1.3000 Round number support
USDCAD is under pressure this morning as the pair continues to unwind last weeks
gains. The move higher last week did highlight a potential base and reversal at
the Oct 29 low of 1.3042. The reversal is significant given it occurred ahead of
the primary support at 1.3016, Jul 19 low. Key short-term resistance is at
1.3208, Oct 30 high. For now though and with the pair under pressure, attention
turns to 1.3075 and 1.3042 support.

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