June Canada dollar futures a buying opportunity on more price strength.
See on the daily bar chart for the June Canada dollar futures that prices Friday hit a six-week high and have also made a solid rebound from the March low. Recent price action has also seen an upside breakout from a pennant pattern. A move above chart resistance at Friday’s high of .9111 would become a buying opportunity. The upside price objective would be .9300, or above. Technical support, for which to place a protective sell stop just below, is located at .9035.
