Canadian Dollar: Under Pressure
Update on supports and resistances.
| Resistance3: | 111 |
| Resistance2: | 107.75 |
| Resistance1: | 104.5 |
| Last: | 101.03 |
| Pivot: | 104.5 |
| Support1: | 100 |
| Support2: | 97.15 |
| Support3: | 95 |
Our preference: Short positions below 104.5 with targets @ 100 & 97.15 in extension.
Alternative scenario: Above 104.5 look for further upside with 107.75 & 111 as targets.
Comment: the RSI broke below a bullish trend line.
111
107.75
104.5
101.03 (last)
100
97.15
95
*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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