Canadian Dollar: Rebound In Sight
Update on supports and resistances.
| Resistance3: | 111.25 |
| Resistance2: | 107.75 |
| Resistance1: | 105.4 |
| Last: | 102.64 |
| Pivot: | 102 |
| Support1: | 102 |
| Support2: | 100 |
| Support3: | 97.6 |
Our preference: Long positions above 102 with targets @ 105.4 & 107.75 in extension.
Alternative scenario: Below 102 look for further downside with 100 & 97.6 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
111.25
107.75
105.4
102.64 (last)
102
100
97.6
*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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