TECHS: Testing Resolve Of Fibo........>

DOLLAR-CANADA: TECHS: Testing Resolve Of Fibo Support At $1.2411

*RES 4: $1.2590/91 Dec 29, Jan 11 highs

*RES 3: $1.2556 Jan 12 high

*RES 2: $1.2520 Hourly congestion Jan 11-12

*RES 1: $1.2475/85 Hourly resistance

*PRICE: $1.2430 @1125GMT

*SUP 1: $1.2405/11 Intraday low, 76.4% of $1.2355-$1.2591

*SUP 2: $1.2353/55 1% volatility band, Jan 5 low

*SUP 3: $1.2343 Previously broken 4 week resistance line

*SUP 4: $1.2264 76.4% Fibo of $1.2061-$1.2921

*COMMENTARY* Has continued to fall since the recovery was halted at $1.2591 last

week. The subsequent drop is testing the resolve of support from the 76.4% Fibo

retrace level at $1.2411 today. A low of $1.2405 seen before some near term

oversold conditions have prompted a bounce. Look to $1.2475-$1.2485 for initial

resistance, above would allow a higher $1.2520-$1.2556 bounce. Below $1.2405 and

anticipate pressure on $1.2355-$1.2343.