29 Jul 2013
Flash: USD/CAD July slide starts to flatten – TD Securities
FXstreet.com (New York) - The TD Securities Team analyses the short-term outlook of the USD/CAD.
Key quotes
“USD/CAD’s late July slide has failed to extend significantly—so far. Over the past week, the trend down has started to flatten out and the short-term candle chart (6-hour bars) shows some signs.”
“The market is less sure about the near-term direction – the short-term trend resistance (1.0281) is coming under pressure at the start of our session today and a push through here may yield a rebound to the low 1.03 zone – we spot support at 1.0250/55.”
Key quotes
“USD/CAD’s late July slide has failed to extend significantly—so far. Over the past week, the trend down has started to flatten out and the short-term candle chart (6-hour bars) shows some signs.”
“The market is less sure about the near-term direction – the short-term trend resistance (1.0281) is coming under pressure at the start of our session today and a push through here may yield a rebound to the low 1.03 zone – we spot support at 1.0250/55.”