Canadian Dollar: Rebound Expected

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Canadian Dollar: Rebound Expected

By Trading Central on June 15, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	125
Resistance2:	119.75
Resistance1:	116.75
Last:	111.3
Pivot:	108
Support1:	108
Support2:	105.5
Support3:	103

Pivot: 108

Our preference: Long positions above 108 with targets @ 116.75 & 119.75 in extension.

Alternative scenario: Below 108 look for further downside with 105.5 & 103 as targets.

Comment: the RSI broke above a declining trend line.

125
119.75
116.75
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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