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TECHS: Vulnerable *RES 4: 1.3270......>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Vulnerable
*RES 4: 1.3270 High Dec 6
*RES 3: 1.3240 High Dec 11
*RES 2: 1.3205 High Dec 13 and initial key resistance
*RES 1: 1.3186 High Dec 16
*PRICE: 1.3162 @ 06:06 GMT Dec 17
*SUP 1: 1.3115 Low Nov 5 and Low Dec 16
*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 failed Monday to hold above the 61.8% retracement of the Oct 29 - Nov 20
rally, at 1.3151. This confirmed an extension of last week's sell-off and
negates the bullish outlook that we had recently highlighted. The break lower
paves the way for weakness towards the 1.3109, 76.4% level. If the pair trades
below this support, it would open 1.3075 and 1.3042. The latter is the Oct 29
low. Resistance is now seen at 1.3186 initially ahead of 1.3205.

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