When we last referenced the US/Canadian dollar, we were looking at an upside resistance of 128-130.  We have since traded into that zone with the high of today touching 130.64 so far.  This level remains a strong resistance and a short term pull back is conceivable.  The US dollar does appear to be holding its own, testing and bouncing off of our near term support at 127 once already.  A strong close above 130 will show a serious conviction towards moving into our higher focal zones with 132 being the first on our radar.

To check out our chart analysis and key focal zones as well as a brief commentary, please click on the link below

http://www.optionsource.net/mediaplayercanadian.php

For more information on USX options, click on the following link.

http://www.m-x.ca/produits_options_devises_en.php

All the Best

Jason Ayres