ISE FX Canadian Dollar: key ST resistance at 108.

  @ibtimes on

Update on supports and resistances.

Resistance3 : 114.75
Resistance2 : 111
Resistance1 : 108
Last Price : 105.85
Pivot Point: 108
Support1 : 102.5
Support2 : 100
Support3 : 98.25

Pivot: 108

Our preference: Short positions below 108 with targets @ 102.5 & 100 in extension.

Alternative scenario: Above 108 look for further upside with 111 & 114.75 as targets.

Comment: a key declining trend line maintains downward pressure.

114.75
111
108
105.85 (last)
102.5
100
98.25

*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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