5 Dec 2014
USD/CAD pressing on the downside in positive territory
FXStreet (Guatemala) - USD/CAD is trading at 1.1434, up 0.52% on the day, having posted a daily high at 1.1477 and low at 1.1371.
USD/CAD was on a roll and took out the 1.14 handle with ease at the end of the week. However, the gains were short lived and the Canadian dollar paired back its losses but only as far as the 1.1420 supporting level. Meanwhile, analysts at TD Securities explained that the intraday peak risks extending back to the upper 1.13 area in the next day or so.
“Providing that losses remain relatively contained from here, the overall technical impression for USDCAD remains quite constructive. Look to buy dips”.
USD/CAD was on a roll and took out the 1.14 handle with ease at the end of the week. However, the gains were short lived and the Canadian dollar paired back its losses but only as far as the 1.1420 supporting level. Meanwhile, analysts at TD Securities explained that the intraday peak risks extending back to the upper 1.13 area in the next day or so.
“Providing that losses remain relatively contained from here, the overall technical impression for USDCAD remains quite constructive. Look to buy dips”.