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5 Mar 2014
Flash: USD/CAD good support on weakness - TDS
FXStreet (Guatemala) - Strategists at TD Securities noted that USD/CAD continues to consolidate.
Key Quotes:
“Short-term trend strength measures have slipped into neutral, supporting the impression of a range trading environment currently”.
“The consolidation range that price action has carved out over the last week or so reflects a pause in the underlying trend higher—potential “bull flag” formation in development—so we look for good support on weakness to the low 1.10 area intraday and for bull momentum to pick up again above 1.1155 in the days ahead”.
Key Quotes:
“Short-term trend strength measures have slipped into neutral, supporting the impression of a range trading environment currently”.
“The consolidation range that price action has carved out over the last week or so reflects a pause in the underlying trend higher—potential “bull flag” formation in development—so we look for good support on weakness to the low 1.10 area intraday and for bull momentum to pick up again above 1.1155 in the days ahead”.