14 Jan 2014
Flash: Look for USD/CAD buying opportunities - TD Securities
FXstreet.com (San Francisco) - The USD/CAD is rallying for seventh day in the last 8 session and after advancing 345 pips since January 6 low of 1.0605, it is now testing the 1.0950 area, first time since October 2009.
Shaun Osbourne, Chief FX Strategist at TD Securities comments that the "USDCAD lost ground yesterday [Monday] but the market was essentially consolidating (inside range day) and looks to be forming a bull consolidation (triangle) on the short-term charts."
TD Securities still prefers "to look for USD buying opportunities,“ as the "broader bull trend is not complete and we continue to target 1.10+ as the near-term objective for this move."
Key support intraday—though US retail sales—is 1.0850
Shaun Osbourne, Chief FX Strategist at TD Securities comments that the "USDCAD lost ground yesterday [Monday] but the market was essentially consolidating (inside range day) and looks to be forming a bull consolidation (triangle) on the short-term charts."
TD Securities still prefers "to look for USD buying opportunities,“ as the "broader bull trend is not complete and we continue to target 1.10+ as the near-term objective for this move."
Key support intraday—though US retail sales—is 1.0850