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Canadian Dollar: The Downside Prevails
By Trading Central on June 12, 2009 | More Posts By Trading Central | Author's Website
Update on supports and resistances.
| Resistance3: | 119.75 |
| Resistance2: | 116.75 |
| Resistance1: | 113.5 |
| Last: | 111.3 |
| Pivot: | 113.5 |
| Support1: | 108 |
| Support2: | 105.5 |
| Support3: | 103 |
Our preference: Short positions below 113.5 with targets @ 108 & 105.5 in extension.
Alternative scenario: Above 113.5 look for further upside with 116.75 & 119.75 as targets.
Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
119.75
116.75
113.5
111.3 (last)
108
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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