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TECHS: Retracing Recent Losses *RES...>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Retracing Recent Losses
*RES 4: 1.4198 High Apr 23
*RES 3: 1.4173 High May 7 and key near-term resistance
*RES 2: 1.4141 High May 14
*RES 1: 1.4114 High May 18
*PRICE: 1.4002 @ 06:02 BST May 22
*SUP 1: 1.3867 Low May 19
*SUP 2: 1.3851 Low Apr 30 and bear trigger
*SUP 3: 1.3812 50.0% retracement of the rally between Jan 7 - Mar 19
*SUP 4: 1.3734 Low Mar 16
USDCAD is retracing some of its recent losses. The move lower earlier this week
follows a failure to challenge 1.4173, May 7 high. A break of this resistance is
still required to fully reinforce bullish conditions. A breach would also
confirm a break of 38.2% of the Mar 19 - Apr 30 sell-off, at 1.4163 reinforcing
a positive outlook and open 1.4265, Apr 21 high. Firm support is at 1.3867, May
19 low and 1.3851, Apr 30 low. Clearance of the latter would be bearish.

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