USD/CAD Index: Bullish Bias Above 123.

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USD/CAD Index: Bullish Bias Above 123.

By Trading Central on March 2, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	140
Resistance2:	138.5
Resistance1:	130
Last:	128.65
Pivot:	123
Support1:	123
Support2:	120.3
Support3:	117.5

Pivot: 123

Our preference: Long positions above 123 with targets @ 130 & 138.5 in extension.

Alternative scenario: Below 123 look for further downside with 120.3 & 117.5 as targets.

Comment: the RSI is well directed.

140
138.5
130
128.65 (last)
123
120.3
117.5

*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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