ISE FX Canadian Dollar: continuation of the rebound.

By Trading Central
09 February 2010 @ 10:20 am EDT

Update on supports and resistances.

Resistance3 : 114.75
Resistance2 : 111.25
Resistance1 : 107.5
Last Price : 107
Pivot Point: 102
Support1 : 102
Support2 : 100
Support3 : 97.6

Pivot: 102

Our preference: Long positions above 102 with targets @ 107.5 & 111.25 in extension.

Alternative scenario: Below 102 look for further downside with 100 & 97.6 as targets.

Comment: the pair has broken above a key declining trend line while daily technical indicators are well directed.

114.75
111.25
107.5
107 (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

For more forex information go to www.tradingcentral.com

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