USD/CAD Index: Rebound Expected.

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USD/CAD Index: Rebound Expected.

By Trading Central on March 12, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	143.7
Resistance2:	140
Resistance1:	133
Last:	129.16
Pivot:	125
Support1:	125
Support2:	120.25
Support3:	114.65

Pivot: 125

Our preference: Long positions above 125 with targets @ 133 & 140 in extension.

Alternative scenario: Below 125 look for further downside with 120.25 & 114.65 as targets.

Comment: the pair is rebounding on its new support (former triangle upper boundary).

143.7
140
133
129.16 (last)
125
120.25
114.65

*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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