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3 Apr 2014
USD/CAD short term bearish - TDS
FXStreet (Guatemala) - Strategists at TD Securities explained that the USD/CAD remains pinned back against support in the low 1.10 area.
Key Quotes:
“The market remains reluctant to push the market lower here but short-term momentum is bearish and the long and short of the technical picture from a near-term point of view is that the past week’s 1.1000/75 range is taking the form of a small bear flag or pennant formation that implies the risk of additional downside movement below 1.1000/10”.
“Short-term resistance is 1.1075”.
Key Quotes:
“The market remains reluctant to push the market lower here but short-term momentum is bearish and the long and short of the technical picture from a near-term point of view is that the past week’s 1.1000/75 range is taking the form of a small bear flag or pennant formation that implies the risk of additional downside movement below 1.1000/10”.
“Short-term resistance is 1.1075”.