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2 Apr 2014
USD/CAD bullish above 1.1075 - TDS
FXStreet (Guatemala) - Strategists at TD Securities noted that the USD/CAD continues to find support a little above 1.10.
Key Quotes:
“Price action over the North American morning session implies another fairly strong technical rejection of the lows and the market has broken out of the steep, late-March trend decline”.
“But, without much upside follow through, neither development really means that much”.
“Negative short-term trend momentum will likely keep the USD capped for the moment. Look for USD/CAD to trade move positively above 1.1075/80. Or for losses to extend towards the low/mid 1.09s below 1.1000”.
Key Quotes:
“Price action over the North American morning session implies another fairly strong technical rejection of the lows and the market has broken out of the steep, late-March trend decline”.
“But, without much upside follow through, neither development really means that much”.
“Negative short-term trend momentum will likely keep the USD capped for the moment. Look for USD/CAD to trade move positively above 1.1075/80. Or for losses to extend towards the low/mid 1.09s below 1.1000”.