Canadian Dollar: Caution

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Canadian Dollar: Caution

By Trading Central on May 13, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	125.15
Resistance2:	122
Resistance1:	120
Last:	116.6
Pivot:	113.8
Support1:	113.8
Support2:	109.9
Support3:	108.3

Pivot: 113.8

Our preference: Long positions above 113.8 with targets @ 120 & 122 in extension.

Alternative scenario: Below 113.8 look for further downside with 109.9 & 108.3 as targets.

Comment: the daily RSI is coming back above a key level, caution.

125.15
122
120
116.6 (last)
113.8
109.9
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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