March Canada dollar futures a selling opportunity on more price weakness.
See on the daily bar chart for the March Canadian dollar futures that prices are in a choppy downtrend and have just hit a seven-week low. The bears are in near-term technical control and would gain better downside momentum by pushing prices below chart support at last week’s low of .9526. That would also become a selling opportunity. The downside price objective would be .9350, or below. Technical resistance, for which to place a protective buy stop just above, is located at .9600.
