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Calling the market in USD/CAD - TDS

FXStreet (Guatemala) - Earlier, analysts at TD Securities explained the conditions surrounding the USD/CAD from a technical point of view.

Key Quotes:

“We saw modest weakness develop in USD/CAD over the balance of the session yesterday, much as we anticipated and, once again, the North American undertone in funds is soft”.

“We think intraday risks are geared towards a push to the
1.0965/75 area now that the market has eased under support at 1.1030/35—intraday support and a small Head &S Shoulders neckline on the charts”.

“The measured-move potential of the H&S extends to 1.0975; retracement support (50% of the rally from the low 1.08 area). We expect resistance now at 1.1020/30”.

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