USD/CAD Index: The Bias Remains Bullish.

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USD/CAD Index: The Bias Remains Bullish.

By Trading Central on February 26, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	138.5
Resistance2:	130
Resistance1:	126.5
Last:	124.3
Pivot:	120
Support1:	120
Support2:	114.8
Support3:	113

Pivot: 120

Our preference: Long positions above 120 with targets @ 126.5 & 130 in extension.

Alternative scenario: Below 120 look for further downside with 114.8 & 113 as targets.

Comment: the RSI is mixed with a bullish bias.

138.5
130
126.5
124.3 (last)
120
114.8
113

*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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