21 Aug 2013
USD/CAD is holding in the 1.0440 area
FXstreet.com (London) - USD/CAD is being supported 1.0420/30/35 in bids.
Research teams at TD Securities said, that on the charts, the rebound in USD/CAD this week is reaching a ’make or break’ point in the mid 1.04 area. “USD/CAD closing above the 40-day MA is bullish and short-term trend momentum supports the better bid tone. A move through 1.0450 in the next day or two should pave the way for a rally to 1.0600/50”.
USD/CAD bullish bias
The teams at TD Securities continued to say “We remain bullish on the outlook for USD/CAD overall, however, and think the USD appreciation over the past few days should serve to reinforce key support at 1.0290/95. We think USD/CAD losses should remain contained to the low 1.03 now and that modest dips in spot provide a decent buying opportunity against a well-defined risk point”. The 20 DMA is 1.0334, 50 DMA is 1.0377 and the 200 DMA is 1.0160
Research teams at TD Securities said, that on the charts, the rebound in USD/CAD this week is reaching a ’make or break’ point in the mid 1.04 area. “USD/CAD closing above the 40-day MA is bullish and short-term trend momentum supports the better bid tone. A move through 1.0450 in the next day or two should pave the way for a rally to 1.0600/50”.
USD/CAD bullish bias
The teams at TD Securities continued to say “We remain bullish on the outlook for USD/CAD overall, however, and think the USD appreciation over the past few days should serve to reinforce key support at 1.0290/95. We think USD/CAD losses should remain contained to the low 1.03 now and that modest dips in spot provide a decent buying opportunity against a well-defined risk point”. The 20 DMA is 1.0334, 50 DMA is 1.0377 and the 200 DMA is 1.0160