ISE FX Canadian Dollar: key ST resistance at 108.

 @ibtimes
on December 09 2009 11:20 AM

Update on supports and resistances.Resistance3 : 114.75Resistance2 : 111Resistance1 : 108Last Price : 105.85Pivot Point: 108Support1 : 102.5Support2 : 100Support3 : 98.25Pivot: 108Our 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.114.75111108105.85 (last)102.510098.25*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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