Canadian Dollar: Under Pressure

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Canadian Dollar: Under Pressure

By Trading Central on April 24, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	130
Resistance2:	127.25
Resistance1:	125.15
Last:	121.4
Pivot:	125.15
Support1:	119.8
Support2:	117.65
Support3:	114.65

Pivot: 125.15

Our preference: Short positions below 125.15 with targets @ 119.8 & 117.65 in extension.

Alternative scenario: Above 125.15 look for further upside with 127.25 & 130 as targets.

Comment: the RSI is capped by a bearish trend line.

130
127.25
125.15
121.4 (last)
119.8
117.65
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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