Canadian Dollar: Capped By A Negative Trend Line

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Canadian Dollar: Capped By A Negative Trend Line

By Trading Central on October 27, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	114.75
Resistance2:	111
Resistance1:	107.5
Last:	106.65
Pivot:	107.5
Support1:	102.5
Support2:	100
Support3:	98.3

Pivot: 107.5

Our preference: Short positions below 107.5 with targets @ 102.5 & 100 in extension.

Alternative scenario: Above 107.5 look for further upside with 111 & 114.75 as targets.

Comment: the RSI is capped by a bearish trend line.

114.75
111
107.5
106.65 (last)
102.5
100
98.3

*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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