Analysts at TD Securities explained that volatile price action in USD/CAD this week has added nearly four big figures to the price in the space of two days.
Key Quotes:
"The strong, underlying bull trend in place in the past few months remains intact and may be accelerating."
"Despite the strong gains in the USD, there is little sense from the broader studies that the rally is over-extended."
"Choppy and gappy price moves may require some back and filling of today’s aggressive pop, however, but that should mean little or no lower than 1.2145/50 near -term before the underlying trend higher resumes."
Key Quotes:
"The strong, underlying bull trend in place in the past few months remains intact and may be accelerating."
"Despite the strong gains in the USD, there is little sense from the broader studies that the rally is over-extended."
"Choppy and gappy price moves may require some back and filling of today’s aggressive pop, however, but that should mean little or no lower than 1.2145/50 near -term before the underlying trend higher resumes."
