December Canada dollar futures a buying opportunity on more price strength.
See on the daily bar chart for the December Canadian dollar futures, traded at the Chicago Mercantile Exchange, that prices are in a four-month-old uptrend and have just posted a solid rebound from the September low. Prices last Friday also produced a bullish weekly high close. The bulls have upside technical momentum and would gain more by pushing December futures prices above technical resistance at last week’s high of 1.0256. That would also become a fresh buying opportunity. The upside price objective would be 1.0500, or above. Technical support, for which to place a protective sell stop just below, is located at 1.0136.
