8 Jul 2013
Flash: USD/CAD technically bullish - TD Securities
FXstreet.com (London) - Research teams at TD Securities said they remain longer-term USD/CAD bulls.
“We think 1.10/1.11 is reachable in the next 6 months or so and while the broader trend here remains constructive, the risk of a sizeable correction remains.” They said the market is pressing up against the top of the bull trend channel in place since the start of the year and is clearly struggling to accelerate further at the moment. “Key support is 1.0421 now. Correction pressure will build below here.”
“We think 1.10/1.11 is reachable in the next 6 months or so and while the broader trend here remains constructive, the risk of a sizeable correction remains.” They said the market is pressing up against the top of the bull trend channel in place since the start of the year and is clearly struggling to accelerate further at the moment. “Key support is 1.0421 now. Correction pressure will build below here.”