September Canada dollar futures a buying opportunity on more price strength.
See on the daily bar chart for the September Canadian dollar futures that prices have made a good rebound from the July low. Prices Tuesday hit a four-week high and have seen an upside breakout from a minor bullish pennant pattern on the daily chart. The bulls have gained upside technical momentum. A move above chart resistance at .9700 would become a buying opportunity. The upside price objective would be .9900, or above. Technical support, for which to place a protective sell stop just below, is located at the May low of .9600.
