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Canadian Dollar: Under Pressure 06/10/2010
Written by article default Wednesday, 06 October 2010 20:39
Update on supports and resistances.
Pivot: 105
Our preference: Short positions below 105 with targets @ 99.5 & 98 in extension.
Alternative scenario: Above 105 look for further upside with 108.35 & 111.25 as targets.
Comment: the RSI broke below a bullish trend line.
111.25
108.35
105
100.95 (last)
99.5
98
97
*USD/CAD Index: the ISE Exchange measures the strength and weakness of the US DOLLAR versus the CANADIAN DOLLAR.