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USD/CAD Index: Caution.
By Trading Central on March 6, 2009 | More Posts By Trading Central | Author's Website
Update on supports and resistances.
| Resistance3: | 140 |
| Resistance2: | 133 |
| Resistance1: | 130 |
| Last: | 124.4 |
| Pivot: | 120.25 |
| Support1: | 120.25 |
| Support2: | 114.65 |
| Support3: | 108.25 |
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
124.4 (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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