18 Jul 2013
USD/CAD near term risk – TD Securities
FXstreet.com (London) - Research Teams at TD Securities said a sustained move below short-term support at 1.0374 (bear wedge base) levitates the risk that USD/CAD takes another tumble.
Key Quotes:
“From here, USD/CAD really needs to move back through 1.0425/45 to stabilise”.
“USD/CAD is stabilizing around the mid-point of the bull trend in place over the past few months (and the 40-day MA) but the consolidation USD/CAD is undergoing leaves the market delicately poised still”.
“Another lurch lower (and a return to a 1.01/1.02 handle) still couldn’t be excluded as a risk for the near-term outlook for funds”.
Key Quotes:
“From here, USD/CAD really needs to move back through 1.0425/45 to stabilise”.
“USD/CAD is stabilizing around the mid-point of the bull trend in place over the past few months (and the 40-day MA) but the consolidation USD/CAD is undergoing leaves the market delicately poised still”.
“Another lurch lower (and a return to a 1.01/1.02 handle) still couldn’t be excluded as a risk for the near-term outlook for funds”.