By Trading Central on January 4, 2011 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	108.35
Resistance2:	105
Resistance1:	102.85
Last:	99.32
Pivot:	102.85
Support1:	98
Support2:	97
Support3:	95

Pivot: 102.85



Our preference: Short positions below 102.85 with targets @ 98 & 97 in extension.



Alternative scenario: Above 102.85 look for further upside with 105 & 108.35 as targets.



Comment: the RSI is badly directed, the pair is breaking below its previous low.



108.35

105

102.85

99.32 (last)

98

97

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