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Canadian Dollar: Caution
By Trading Central on May 14, 2009 | More Posts By Trading Central | Author's Website
Update on supports and resistances.
| Resistance3: | 125.15 |
| Resistance2: | 122 |
| Resistance1: | 120 |
| Last: | 117.5 |
| Pivot: | 113.8 |
| Support1: | 113.8 |
| Support2: | 109.9 |
| Support3: | 108.3 |
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
117.5 (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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