Canadian Dollar Continues Bearish Momentum

Canadian Dollar-- The Canadian dollar continues its bearish momentum today down another 20 points right near session lows of the day in the June contract currently at 9728 after breaking out of that 14 week consolidation last week prices continue to break support with the next level of major support around 9650 which in my opinion I think will be broken pretty soon due to the fact that the U.S dollar is the king right now with investors flocking for security and exiting all other major foreign currencies at least here in the short term. Also the Canadian dollar is affected by crude oil and other export prices so with lower commodity prices and lower crude oil prices that tends to put pressure on the Canadian dollar. .   If you are looking for a futures broker feel free to contact Michael Seery at 800-615-7649 and he will be more than happy to help you with your trading.

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