USD/CAD trend cuts both ways - TDS

FXStreet (Guatemala) - Analysts at TD Securities explained that the steeper trend higher in USD/CAD that has evolved since November cuts both ways potentially.

Key Quotes:

“On the one hand, while the ceiling of the broader bull trend channel holds, there is a risk of the USD rally stalling and dipping (steeper gains and failure
to make new highs implies the trend is losing strength). On the other, new highs would suggest the USD rally is accelerating”.

“Strongly bullish trend momentum oscillators on the daily, weekly and monthly charts favour an upside acceleration”.