Canadian Dollar: Under Pressure

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Canadian Dollar: Under Pressure

By Trading Central on May 27, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	125
Resistance2:	121.25
Resistance1:	118.2
Last:	111.5
Pivot:	118.2
Support1:	108.7
Support2:	105.5
Support3:	103

Pivot: 118.2

Our preference: Short positions below 118.2 with targets @ 108.7 & 105.5 in extension.

Alternative scenario: Above 118.2 look for further upside with 121.25 & 125 as targets.

Comment: the pair is pushing below a rising trend line.

125
121.25
118.2
111.5 (last)
108.7
105.5
103

*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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