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23 Jun 2015
Buy the dips in USD/CAD – TDS
FXStreet (Edinburgh) - The FX Strategy Team at TD Securities recommended buying the pair on pullbacks.
Key Quotes
“Spot gains bring the market more in line with our FV estimate (equilibrium at 1.2391 this morning, according to our model this morning) and give the impression of a market that is poised to rally again via the charts”.
“USDCAD is trading through short-term consolidation resistance (now support at 1.2248) and is making an attempt at pushing above the 28- day MA (1.2325)”.
“This adds to our technical view that last Thursday’s low to 1.2130 marked a major low/turning point for USDCAD”.
“We see minor resistance at 1.2365/75 intraday. Major resistance is 1.2502 currently. Look to buy dips”.
Key Quotes
“Spot gains bring the market more in line with our FV estimate (equilibrium at 1.2391 this morning, according to our model this morning) and give the impression of a market that is poised to rally again via the charts”.
“USDCAD is trading through short-term consolidation resistance (now support at 1.2248) and is making an attempt at pushing above the 28- day MA (1.2325)”.
“This adds to our technical view that last Thursday’s low to 1.2130 marked a major low/turning point for USDCAD”.
“We see minor resistance at 1.2365/75 intraday. Major resistance is 1.2502 currently. Look to buy dips”.