As of last night, the latest consensus on the Canadian Dollar continued to deteriorate with optimism in the loonie at its lowest levels since 2001. In my opinion this as a contrarian opportunity and we should be looking for any attempt for the currency to recover and reverse course. On August 10th, I believe we saw the short-covering price action we’ve been waiting for with today’s move illustrating a potential bottom and shifting momentum to the upside. 1St resistance is at .7773 to .7781. 2nd resistance is .7888 to .7896.
For More Questions Contact Travis Cochran travis.cochran@Gofutures.com 312.765.7238