May 13, 2013
Forex Flash: USD/CAD is consolidating last week’s rebound - TD Securities
FXstreet.com (London) - The research teams at FX & Commodities Research for TD Securities noted that the salient feature of the daily chart remains last Thursday’s big, bullish key reversal day, which strongly suggests that an important, short-term low is in for funds at this point. They went on to warn of caution of the low/mid 1.01 area which remains a zone of quite strong resistance and highlighted that good selling interest reportedly emerged here through Asian trade. On the day, weakness below 1.0100/10 may see 1.0055 retested and sees these levels as a good opportunity for USD buyers. Overall, they are remaining bullish for the funds.