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Canadian Dollar: Rebound In Sight
By Trading Central on September 29, 2009 | More Posts By Trading Central | Author's Website
Update on supports and resistances.
| Resistance3: | 117.5 |
| Resistance2: | 114.75 |
| Resistance1: | 111 |
| Last: | 109.01 |
| Pivot: | 106 |
| Support1: | 106 |
| Support2: | 103 |
| Support3: | 100 |
Our preference: Long positions above 106 with targets @ 111 & 114.75 in extension.
Alternative scenario: Below 106 look for further downside with 103 & 100 as targets.
Comment: the RSI is challenging a key declining trend line.
117.5
114.75
111
109.01 (last)
106
103
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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