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CAD indecisive; possible buy dips play – TDS

FXStreet (Guatemala) - Analysts at TD Securities sight that the USD/CAD has no directional signals short term but comes with a slightly bullish bias perhaps.

Key Quotes:

“The daily patterns are not telling us much more than the short-term charts at the moment; the slide in spot has choked off the bullish momentum that was evident here previously and suggests a period of range trading before the USD can decide where
it wants to go”.

“We still think the broader bull trend is your friend and that the 40-day MA should provide support for the USD in the next few days. We are more inclined to look at USD/CAD dips as a buying opportunity”.

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