June Canada Dollar Futures a Buying Opportunity on More Price Strength
See on the daily bar chart for the June Canadian dollar futures that prices are in a three-week-old uptrend and this week hit a three-month high.
The bulls had gained some upside near-term technical momentum and then saw a bout of profit-taking pressure Friday. However, a move above chart resistance at .9200 would give the bulls fresh upside momentum and it would also become a buying opportunity. The upside price objective would be .9400. Technical support, for which to place a protective sell stop just below, is located at .9100.
