Canadian Dollar (CAD) Technical Major Currencies Mid-day Report (2009-09-08)

By IBTimes Staff Reporter | September 08 2009 8:18 AM

Mid-day report

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The dollar versus loonie pair achieved a breachto themajor support level at 1.0715, expected this morning, where we expect a way to be open to continue the short term intraday downside move; where its key targets are around 1.0300. It is vital that the downside prevails for today with four-hour closingbelow 1.0715.

The trading range for today is among the key support at 1.0565 and the key resistance at 1.1320.

The general trend is to the downside as far as 1.1870 remains intact with targets at 1.0300.

Support1.06551.06251.05651.05001.0420Resistance1.07151.07851.08701.09151.1000RecommendationOur morning expectation remains valid

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