Flash: USD/CAD tracking higher – TD Securities

FXstreet.com (Barcelona) - Research teams at TD Securities are looking for an extension in USD/CAD back up to the 1.6000 handle.

Key Quotes:

“The CAD finds itself towards the bottom of the G-10 performance league at the start of our trading day, with USD/CAD continuing to track higher towards the 1.06 level through Asian trading”,

“Technically, with the spot through short-term 76.4% retracement resistance at 1.0522, we look for the move up to extend back to 1.0600/50 quickly”.

“The trend higher is well-entrenched and we have revised up our target for this move to 1.08”.