March Canada Dollar Futures a Selling Opportunity on More Price Weakness
See on the daily bar chart for the March Canada dollar futures that prices are in a solid downtrend and have recently seen a short-covering bounce. But prices now pushed up against trend-line resistance and backed off. A move below chart support at .8750 would give the bears better downside momentum. It would also become a selling opportunity. The downside price objective would be .8500, or below. Technical resistance, for which to place a protective buy stop just above, is located at this week’s high of .8855.
