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Canadian Dollar: Under Pressure
By Trading Central on May 28, 2009 | More Posts By Trading Central | Author's Website
Update on supports and resistances.
| Resistance3: | 125 |
| Resistance2: | 121.25 |
| Resistance1: | 118.2 |
| Last: | 111.25 |
| Pivot: | 118.2 |
| Support1: | 108.7 |
| Support2: | 105.5 |
| Support3: | 103 |
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
111.25 (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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