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TECHS: Still Trading Below Recent.....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Still Trading Below Recent Highs
*RES 4: 1.3535 High Jun 3
*RES 3: 1.3500 Round number resistance
*RES 2: 1.3465 High Feb 28 and key resistance
*RES 1: 1.3441 High Mar 2
*PRICE: 1.3390 @ 06:11 GMT Mar 5
*SUP 1: 1.3315 Low Mar 2
*SUP 2: 1.3267 Low Feb 25
*SUP 3: 1.3259 Trendline support drawn off the Jan 7 low
*SUP 4: 1.3202 Low Feb 21 and key support
The BoC rate cut inspired rally in USDCAD failed to crack any notable resistance
levels, leaving the S/T picture unchanged. The pair is trading below Friday's
1.3465 high. Whether the pullback off this high is a reversal is too early to
tell and attention is on support at 1.3317 which was probed briefly Monday. A
clear break would open 1.3267, Feb 25 low ahead of the key trendline support at
1.3259. The trendline is drawn off the Jan 7 low. The bull trigger is 1.3465.

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