December Canada dollar futures a selling opportunity on more price weakness.
See on the daily bar chart for the December Canadian dollar futures that prices are in a three-week-old downtrend and have just hit a four-week low. The bears have gained downside near-term technical momentum and would gain more by pushing prices below support at Thursday’s low of .9581. That would also become a selling opportunity. The downside price objective would be .9425, or below. Technical resistance, for which to place a protective buy stop just above, is located at .9650.
