11 Jun 2015
USD/CAD still points to 1.2185 – TDS
FXStreet (Edinburgh) - Strategists at TD Securities still expect spot to test the measured target at 1.2185.
Key Quotes
“USDCAD may be developing an inside range session today, pointing to a consolidation of the relatively sharp fall from the mid 1.25 area over the past week”.
“We are not confident that a major low is in for the market at this point, however, and note that daily trend momentum has turned negative”.
“Weekly signals are turning (slowly) a little more adverse for the USD as well which may make topside progress hard to achieve in the near-term”.
“Note that the market has still not (yet) fully completed the measured target (1.2185) implied by the breakdown in price at the start of the week on the short-term charts”.
Key Quotes
“USDCAD may be developing an inside range session today, pointing to a consolidation of the relatively sharp fall from the mid 1.25 area over the past week”.
“We are not confident that a major low is in for the market at this point, however, and note that daily trend momentum has turned negative”.
“Weekly signals are turning (slowly) a little more adverse for the USD as well which may make topside progress hard to achieve in the near-term”.
“Note that the market has still not (yet) fully completed the measured target (1.2185) implied by the breakdown in price at the start of the week on the short-term charts”.