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Canadian Dollar: The Bias Remains Bullish

By Trading Central on July 2, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:125
Resistance2:121.25
Resistance1:118
Last:115.65
Pivot:111
Support1:111
Support2:107.8
Support3:104
Pivot: 111

Our preference: Long positions above 111 with targets @ 118 & 121.25 in extension.

Alternative scenario: Below 111 look for further downside with 107.8 & 104 as targets.

Comment: the RSI broke above a declining trend line.

125
121.25
118
115.65 (last)
111
107.8
104

*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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