March Canada dollar futures selling opportunity on fresh price weakness.
See on the daily bar chart for March Canada dollar futures, traded at the Chicago Mercantile Exchange, that prices have made a rebound from the November low, but have pushed up against downtrend line resistance. Technical odds suggest the downtrend line will remain intact. A move below technical support at this week’s low of 1.0016 would provide the bears with some fresh downside momentum and it would also become a fresh selling opportunity. The downside price objective would be .9800, or below. Technical resistance, for which to place a protective buy stop just above, is located at 1.0100.
