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 |
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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