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USDCAD: Getting close to bottoming out - TDS

FXStreet (Delhi) – Research Team at TDS, note that for the while USDCAD pair is likely to remain in the key 1.28/1.29 zone but the daily charts suggest that funds may be getting close to bottoming.

Key Quotes

“But the weekly and quarterly charts suggest that there may be additional downside. We still think that the 1.28/1.29 area still offers some value to buy from a strategic perspective but we are still vigilant that there may be some downside pressure from EUR cross selling. USDCAD FV is little changed from yesterday at 1.28.”

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