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Dollar/Canada Support and Resistance

Posted by Joseph Trevisani on Mar 7, 2013 1:56:00 PM

Against a backdrop of purported fund demand in the 1.0280-90 area, Dollar/Canada, at 1.0293, continues to trade above support at 1.0280 (earlier low at 1.0285). Talk of stops on a break of that level, with new bids coming in at 1.0250 (low from March 4, 1.0263, and March 6 1.0255).

Support at 1.0233, 21 day moving average

Resistance at 1.0340, (high from March 1, 1.0342 and March 6, 1.0337) and 1.0380 (high June 6, 2012, 100384).

 

MNI & WWM

Bloomberg

 

ScreenHunter 711 Mar. 07 14.07 resized 600

 

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