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CAD and crosses technical snap-shot - TDS

FXStreet (Barcelona) - Analysts at TD Securities explained the Canadian dollar and crosses from a technical point of view in a snap shot.

Key Quotes:

USD/CAD struggles to advance beyond 1.12 but the underlying bull trend remains strong and we see limited scope for weakness at the moment”.

“A short-squeeze in EUR/CAD should not extend too far; modest gains are there for the selling”.

“AUD/CAD bounces from the low 0.97 area and may trade a little higher still near-term; the broader trend remains lower though”.

“GBP/CAD gets bogged down around retracement resistance but should eventually push higher towards 1.83”.

“CAD/JPY still looks soft but needs to break support at 97.70 to extend lower”.

USD/CAD jumps above 1.1200 amid oil's collapse

The USD/CAD climbed around 50 pips from 1.1165 to break above 1.1200 and to reach fresh highest level since March 24 at 1.1220. Canadian Dollar is trading under pressure amid the $3.80 collapse in the oil prices to $91.00/barrel.
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