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TECHS: Vulnerable Below 1.3042 *RES...>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Vulnerable Below 1.3042
*RES 4: 1.3181 High Dec 20 and key resistance
*RES 3: 1.3103 Low Dec 18
*RES 2: 1.3070 High Dec 31
*RES 1: 1.3042 Low Oct 29
*PRICE: 1.3010 @ 10:43 GMT Jan 8
*SUP 1: 1.2952 Low Dec 31 and bear trigger
*SUP 2: 1.2917 Low Oct 16
*SUP 3: 1.2857 Low Oct 4, 2018
*SUP 4: 1.2783 Low Oct 1, 2018
USDCAD broke higher Tuesday, but key near-term resistance at 1.3042 has yet to
give way and ease the short-term bearish threat. A bearish theme follows the
recent strong sell-off that resulted in the clearance of 1.3042, the Oct 29 low
and 1.3016, Jul 19 low. Furthermore, 1.2991 has also been breached, the 76.4%
retracement of the rally between Oct - Dec 2018. These breaks signal scope for a
move towards 1.2917 next, Oct 16 low, 2018.

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