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Canadian Dollar: Under Pressure
By Trading Central on June 2, 2009 | More Posts By Trading Central | Author's Website
Update on supports and resistances.
| Resistance3: | 121.25 |
| Resistance2: | 118 |
| Resistance1: | 113 |
| Last: | 108.25 |
| Pivot: | 113 |
| Support1: | 105.5 |
| Support2: | 103 |
| Support3: | 100 |
Our preference: Short positions below 113 with targets @ 105.5 & 103 in extension.
Alternative scenario: Above 113 look for further upside with 118 & 121.25 as targets.
Comment: the pair is pushing below a rising trend line.
121.25
118
113
108.25 (last)
105.5
103
100
*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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