25 Mar 2014
USD/CAD momentum slowing on the offer - TDS
FXStreet (Guatemala) - Analysts at TD Securities explained that the USD/CAD dropped out of the low end of the past week’s consolidation range this morning, but…
Key Quotes:
“So far, follow through selling interest has been limited and the market may be trying to rebound from the low end of the gap left open by last week’s surge higher in spot—still support even though the USD move to fill the gap last Friday”.
“We look for firm support in the upper 1.11s from here, firmer support is evident on the daily chart lower down. Gains back through 1.1195/00 are needed to steady the market from here. We still like USD/CAD higher but price action is a little disappointing today so far”.
Key Quotes:
“So far, follow through selling interest has been limited and the market may be trying to rebound from the low end of the gap left open by last week’s surge higher in spot—still support even though the USD move to fill the gap last Friday”.
“We look for firm support in the upper 1.11s from here, firmer support is evident on the daily chart lower down. Gains back through 1.1195/00 are needed to steady the market from here. We still like USD/CAD higher but price action is a little disappointing today so far”.