10 Jun 2013
Flash: USD/CAD bearish outlook - TD Securities
FXstreet.com (London) - Research teams at TD Securities note that USD/CAD is consolidating last week’s slide.
They explain that the USD has found support in the upper 1.0100 area fairly consistently since early Friday but the short-term picture is delicately poised. Their analysts said that he USD may be forming a bear wedge.
“We think the odds are slightly in favour of a push higher from here with the past hour’s session forming a minor bull signal (hourly outside range higher). Above 1.0215 should confirm.”
They explain that the USD has found support in the upper 1.0100 area fairly consistently since early Friday but the short-term picture is delicately poised. Their analysts said that he USD may be forming a bear wedge.
“We think the odds are slightly in favour of a push higher from here with the past hour’s session forming a minor bull signal (hourly outside range higher). Above 1.0215 should confirm.”