Canadian Dollar: Caution

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Canadian Dollar: Caution

By Trading Central on November 4, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	114.75
Resistance2:	111
Resistance1:	109
Last:	106
Pivot:	109
Support1:	102.5
Support2:	100
Support3:	98.25

Pivot: 109

Our preference: Short positions below 109 with targets @ 102.5 & 100 in extension.

Alternative scenario: Above 109 look for further upside with 111 & 114.75 as targets.

Comment: the pair is reversing down from a declining trend line.

114.75
111
109
106 (last)
102.5
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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