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TECHS: Tests The Fibonacci............>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Tests The Fibonacci Retracement
*RES 4: 1.3328 High Nov 20 and initial key resistance
*RES 3: 1.3298 High Dec 4
*RES 2: 1.3270 High Dec 6
*RES 1: 1.3240 High Dec 11
*PRICE: 1.3168 @ 06:54 GMT Dec 13
*SUP 1: 1.3151 Intraday low and 61.8% of the Oct 29 to Nov 20 rally
*SUP 2: 1.3109 76.4% retracement of the Oct 29 - Nov 20 rally
*SUP 3: 1.3075 Low Oct 30
*SUP 4: 1.3042 Low Oct 29 and key support
USDCAD bulls suffered a sharp sell-off Wednesday. For now, this move is
considered corrective. The 61.8% retracement of the Oct 29 to Nov 20 rally at
1.3151 remains a key support going forward. While it holds (it has been tested
overnight), a bullish theme remains in place and if the USD is able to find a
bid tone once again, potential would be seen for a climb towards 1.3300 and
beyond. A clear break of 1.3151 would expose a deeper setback.

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