USD/CAD Index: Caution.

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By Trading Central on March 4, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	140
Resistance2:	133
Resistance1:	130
Last:	128.25
Pivot:	120.25
Support1:	120.25
Support2:	114.65
Support3:	108.25

Pivot: 120.25

Our preference: Long positions above 120.25 with targets @ 130 & 133 in extension.

Alternative scenario: Below 120.25 look for further downside with 114.65 & 108.25 as targets.

Comment: the pair failed to break above the 130 strong resistance. A ST consolidation is likely but the 120.25 support area maintains a MT bullish bias.

140
133
130
128.25 (last)
120.25
114.65
108.25

*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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