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USD/CNH Remains Within Recent Ranges

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DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Sharp Reversal Friday
*RES 4: 1.3348 High Oct 3
*RES 3: 1.3328 High Nov 20 and initial key resistance
*RES 2: 1.3298 High Dec 4
*RES 1: 1.3270 High Dec 6
*PRICE: 1.3256 @ 06:13 GMT Dec 9
*SUP 1: 1.3172 Low Dec 6
*SUP 2: 1.3159/51 Low Dec 5 / 61.8% of the Oct 29 to Nov 20 rally
*SUP 3: 1.3109 76.4% retracement of the Oct 29 - Nov 20 rally
*SUP 4: 1.3075 Low Oct 30
USDCAD rallied sharply Friday. Of interest is the fact that the 61.8%
retracement of the Oct 29 to Nov 20 rally at 1.3151 has remained intact. This is
a bullish technical development and, together with Friday's post labour data
rally, if the USD is able to maintain a bid tone potential would be seen for an
extension higher towards 1.3300. To negate last week's early sell-off though, a
break of 1.3328, Nov 20 high is required. Key support is at 1.3159.

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