Canadian Dollar: Continuation Of The Rebound

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Canadian Dollar: Continuation Of The Rebound

By Trading Central on April 20, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	130
Resistance2:	126.75
Resistance1:	124.5
Last:	123.7
Pivot:	117.6
Support1:	117.6
Support2:	114.65
Support3:	108.7

Pivot: 117.6

Our preference: Long positions above 117.6 with targets @ 124.5 & 126.75 in extension.

Alternative scenario: Below 117.6 look for further downside with 114.65 & 108.7 as targets.

Comment: the RSI has just landed on a support around 30% and is reversing up.

130
126.75
124.5
123.7 (last)
117.6
114.65
108.7

*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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