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13 Aug 2013
Flash: USD/CAD on a consolidative path – TD Securities
FXstreet.com (New York) - The TD Securities Team looks at the USD/CAD and postulates an outlook for the pair.
Key quotes
“On the charts, USD/CAD has only made very small progress higher from the lows set at the beginning of trading this week. That leaves the broader range still firmly intact between 1.0250 and 1.0440/45.”
“From a broader perspective, the daily and weekly charts show signs of fading momentum in the move higher for the USD/CAD, but we still see the more neutral price action of late July/early August as a consolidative phase that should lead a move to higher levels.”
Key quotes
“On the charts, USD/CAD has only made very small progress higher from the lows set at the beginning of trading this week. That leaves the broader range still firmly intact between 1.0250 and 1.0440/45.”
“From a broader perspective, the daily and weekly charts show signs of fading momentum in the move higher for the USD/CAD, but we still see the more neutral price action of late July/early August as a consolidative phase that should lead a move to higher levels.”