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USD/CAD losing momentum - TD Securities

FXStreet (Łódź) - The TD Securities team of FX Strategists point to the weakening of USD/CAD overnight after it had closed higher on the day on Thursday.

Key quotes

"A move higher around the London opening faltered after funds recorded the high thus far for the week at 1.1133."

"We are now close to 1.11 the figure and the hourly chart does not look constructive."

"Moreover, failure to close above the 1.1125 level (76.4% retracement from the March-July move lower) for a third session in a row today after repeated attempts to break clear of that resistance level over the last three days, does call into question the willingness of the market to drive the price much higher in the short term."

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