ISE FX Canadian Dollar: under pressure.

By Trading Central
12 March 2010 @ 09:20 am EDT

Update on supports and resistances.

Resistance3 : 107.75
Resistance2 : 105.4
Resistance1 : 104
Last Price : 101.62
Pivot Point: 104
Support1 : 100
Support2 : 97.6
Support3 : 95

Pivot: 104

Our preference: Short positions below 104 with targets @ 100 & 97.6 in extension.

Alternative scenario: Above 104 look for further upside with 105.4 & 107.75 as targets.

Comment: the RSI is badly directed, the pair has broken below its support and should face a further weakness.

107.75
105.4
104
101.62 (last)
100
97.6
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

For more forex information go to www.tradingcentral.com

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