June Canadian dollar futures a selling opportunity on fresh price weakness.
See on the daily bar chart for June Canadian dollar futures that recent price action has formed a bear flag pattern. A move in prices below solid chart support at last week’s low of .8938 would provide the bears with fresh downside technical momentum and it would also become a selling opportunity. The downside price objective would be .8700, or below. Technical resistance, for which to place a protective buy stop just above, is located at .9050.
