Canadian Dollar: Rebound In Sight

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Canadian Dollar: Rebound In Sight

By Trading Central on May 4, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	130
Resistance2:	127.25
Resistance1:	125.15
Last:	117.75
Pivot:	117.65
Support1:	117.65
Support2:	114.65
Support3:	108.3

Pivot: 117.65

Our preference: Long positions above 117.65 with targets @ 125.15 & 127.25 in extension.

Alternative scenario: Below 117.65 look for further downside with 114.65 & 108.3 as targets.

Comment: the RSI is negative but supported by a strong support.

130
127.25
125.15
117.75 (last)
117.65
114.65
108.3

*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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