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Canadian Dollar: The Downside Prevails

By Trading Central on August 19, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:117.5
Resistance2:114.75
Resistance1:112
Last:110.15
Pivot:112
Support1:106.5
Support2:104
Support3:100
Pivot: 112

Our preference: Short positions below 112 with targets @ 106.5 & 104 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
110.15 (last)
106.5
104
100

*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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