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Canadian Dollar: The Bias Remains Bullish
By Trading Central on February 13, 2009 | More Posts By Trading Central | Author's Website
Update on supports and resistances.
| Resistance3: | 138.5 |
| Resistance2: | 130 |
| Resistance1: | 127.6 |
| Last: | 124 |
| Pivot: | 118.75 |
| Support1: | 118.75 |
| Support2: | 114.8 |
| Support3: | 112 |
Our preference: Long positions above 118.75 with targets @ 127.6 & 130 in extension.
Alternative scenario: Below 118.75 look for further downside with 114.8 & 112 as targets.
Comment: the RSI is mixed with a bullish bias.
138.5
130
127.6
124 (last)
118.75
114.8
112
*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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