Canadian Dollar: The Bias Remains Bullish

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Canadian Dollar: The Bias Remains Bullish

By Trading Central on February 10, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	138.5
Resistance2:	130
Resistance1:	127.6
Last:	123.2
Pivot:	118.5
Support1:	118.5
Support2:	114.8
Support3:	111.5

Pivot: 118.5

Our preference: Long positions above 118.5 with targets @ 127.6 & 130 in extension.

Alternative scenario: Below 118.5 look for further downside with 114.8 & 111.5 as targets.

Comment: the RSI is mixed with a bullish bias.

138.5
130
127.6
123.2 (last)
118.5
114.8
111.5

*USD/CAD Index: the ISE Exchange measures the strength and weakness of the US DOLLAR versus the CANADIAN DOLLAR. For details go to www.ise.com

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