March Canada dollar futures a buying opportunity on more price strength.
See on the daily bar chart for the March Canadian dollar futures, traded at the Chicago Mercantile Exchange, that prices are in a four-week-old uptrend and on Wednesday hit a fresh seven-week high. The bulls have gained upside near-term technical momentum recently. A move above technical resistance at Wednesday’s high of 1.0128 would become a fresh buying opportunity. The upside price objective would be 1.0300, or above. Technical support, for which to place a protective sell stop just below, is located at 1.0050.
