USD/CAD Index: The Bias Remains Bullish

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USD/CAD Index: The Bias Remains Bullish

By Trading Central on February 19, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	138.5
Resistance2:	130
Resistance1:	127
Last:	125.5
Pivot:	119
Support1:	119
Support2:	114.8
Support3:	112.5

Pivot: 119

Our preference: Long positions above 119 with targets @ 127 & 130 in extension.

Alternative scenario: Below 119 look for further downside with 114.8 & 112.5 as targets.

Comment: the RSI is mixed with a bullish bias.

138.5
130
127
125.5 (last)
119
114.8
112.5

*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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