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USD/CAD: Losses should be contained by mid 1.08 - TDS

FXStreet (Bali) - According to the FX Team at TD Securities, USDCAD losses should remain contained to the mid 1.08 area given the current technical and fundamental landscape.

Key Quotes

"USDCAD stalled just below 1.10 this week and while the sell-off back to the 1.09 area is a setback for the rally, it is not necessarily a signal that the move up is poised to correct more meaningfully at this point. We think USDCAD losses should remain contained to the mid 1.08 area from here but volatility may pick up more around Friday’s Canadian employment report."

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