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May 24, 2013
USD/CAD pullbacks contained around 1.0310/15
FXstreet.com (Barcelona) - The US dollar resumed its momentum against the CAD on Friday, keeping the cross in the positive territory around 1.0310/15.
In the opinion of G.Moore and S.Osborne, FX Strategists at TD Securities, “The trend higher should prevail. Trend momentum signals remain constructive across a range of timeframes and we think this implies limited downside scope and an ongoing, though perhaps grinding (for the moment), bid in funds”.
USD/CAD is now up 0.09% at 1.0315 with the next resistance at 1.0425 (high Jun.5 2012) ahead of 1.0446 (2012 June high) and finally 1.0472 (high Nov.28 2011). On the flip side, a drop beyond 1.0300 (hourly low May 24) would bring 1.0251 (low May 22) and then 1.0246 (MA10d).
In the opinion of G.Moore and S.Osborne, FX Strategists at TD Securities, “The trend higher should prevail. Trend momentum signals remain constructive across a range of timeframes and we think this implies limited downside scope and an ongoing, though perhaps grinding (for the moment), bid in funds”.
USD/CAD is now up 0.09% at 1.0315 with the next resistance at 1.0425 (high Jun.5 2012) ahead of 1.0446 (2012 June high) and finally 1.0472 (high Nov.28 2011). On the flip side, a drop beyond 1.0300 (hourly low May 24) would bring 1.0251 (low May 22) and then 1.0246 (MA10d).