Canadian Dollar: Caution

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Canadian Dollar: Caution

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

Update on supports and resistances.

Resistance3:	125.15
Resistance2:	122
Resistance1:	120
Last:	114.15
Pivot:	112.5
Support1:	112.5
Support2:	108.7
Support3:	105.5

Pivot: 112.5

Our preference: Long positions above 112.5 with targets @ 120 & 122 in extension.

Alternative scenario: Below 112.5 look for further downside with 108.7 & 105.5 as targets.

Comment: a key rising trend line should favour a recovery.

125.15
122
120
114.15 (last)
112.5
108.7
105.5

*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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