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TECHS: Starts The Week On A Softer....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Starts The Week On A Softer Note
*RES 4: 1.4265 High Apr 21 and the bull trigger
*RES 3: 1.4198 High Apr 23
*RES 2: 1.4173 High May 7 and key near-term resistance
*RES 1: 1.4141 High May 14
*PRICE: 1.3966 @ 18:43 BST May 18
*SUP 1: 1.3953 50-day EMA
*SUP 2: 1.3900 Low May 11
*SUP 3: 1.3851 Low Apr 30 and bear trigger
*SUP 4: 1.3812 50.0% retracement of the rally between Jan 7 - Mar 19
USDCAD traded lower Monday, failing to challenge resistance at 1.4173, May 7
high. A break of this resistance is still required to fully reinforce bullish
conditions. Note, a breach would also confirm a break of 38.2% of the Mar 19 -
Apr 30 sell-off, at 1.4163 reinforcing a bullish theme. This would open 1.4265,
Apr 21 high. Firm support lies at 1.3900, May 11 low and 1.3851, Apr 30 low. A
break of the latter would be bearish.

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