Canadian Dollar: The Downside Prevails

Update on supports and resistances.

Resistance3:

108.5

Resistance2:

104

Resistance1:

101.5

Last:

98.1

Pivot:

101.5

Support1:

97

Support2:

95.65

Support3:

94.85

Pivot: 101.5

Our preference: Short positions below 101.5 with targets @ 97 & 95.65 in extension.

Alternative scenario: Above 101.5 look for further upside with 104 & 108.5 as targets.

Comment: the RSI is capped by a bearish trend line.

108.5

104

101.5

98.1 (last)

97

95.65

94.85

*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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