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21 Aug 2014
USD/CAD bulls targeting 1.1050 for now - TD Securities
FXStreet (Guatemala) - Shaun Osbourne, Chief FX Strategist at TD Securities said, in relation to the USD/CAD, that they continue to target 1.1050 near-term.
Key Quotes:
"USD/CAD closed firmly Wednesday and made a little more progress overnight to eek out a marginal new cycle high in the upper 1.09s before drifting back. After working through corporate selling interest in the mid 1.09s, yesterday afternoon’s push up in the USD broadly took funds through important technical resistance at 1.0960 into the close—just."
"But “just” might be good enough. We are still bullish and think the rise through 1.0960 will underpin the broader rebound in USD/CAD that really got under way in late July."
"We continue to target 1.1050 near-term but we think 1.12 is reachable in the next few weeks. We target 1.15 in Q1 2015."
Key Quotes:
"USD/CAD closed firmly Wednesday and made a little more progress overnight to eek out a marginal new cycle high in the upper 1.09s before drifting back. After working through corporate selling interest in the mid 1.09s, yesterday afternoon’s push up in the USD broadly took funds through important technical resistance at 1.0960 into the close—just."
"But “just” might be good enough. We are still bullish and think the rise through 1.0960 will underpin the broader rebound in USD/CAD that really got under way in late July."
"We continue to target 1.1050 near-term but we think 1.12 is reachable in the next few weeks. We target 1.15 in Q1 2015."