Canadian Dollar: The Downside Prevails

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Canadian Dollar: The Downside Prevails

By Trading Central on April 16, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	130
Resistance2:	126.75
Resistance1:	124.5
Last:	120.7
Pivot:	124.5
Support1:	117.6
Support2:	114.65
Support3:	108.2

Pivot: 124.5

Our preference: Short positions below 124.5 with targets @ 117.6 & 114.65 in extension.

Alternative scenario: Above 124.5 look for further upside with 126.75 & 130 as targets.

Comment: the RSI is mixed with a bearish bias.

130
126.75
124.5
120.7 (last)
117.6
114.65
108.2

*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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