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Canadian Dollar: Under Pressure
By Trading Central on August 6, 2009 | More Posts By Trading Central | Author's Website
Update on supports and resistances.
| Resistance3: | 117.5 |
| Resistance2: | 114.75 |
| Resistance1: | 112 |
| Last: | 107.55 |
| Pivot: | 112 |
| Support1: | 104 |
| Support2: | 100 |
| Support3: | 98.25 |
Our preference: Short positions below 112 with targets @ 104 & 100 in extension.
Alternative scenario: Above 112 look for further upside with 114.75 & 117.5 as targets.
Comment: the RSI is capped by a bearish trend line.
117.5
114.75
112
107.55 (last)
104
100
98.25
*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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