FXStreet (Edinburgh) - The FX Research Team at TD Securities suggested that the pair might find strong resistance in the 1.2300 area.
Key Quotes
“Intraday, we see resistance for USDCAD at 1.2300/10 and we rather doubt the USD will have the legs to recover beyond that point today (despite the squeeze underway right now)”.
“Short-term trend momentum signals are aligned bearishly for USDCAD, adding to the heavy feel of the market, limiting recovery potential and upping the risk of a short-term (at least) downside overshoot”.
The FX Research Team at TD Securities suggested that the pair might find strong resistance in the 1.2300 area...
Key Quotes
“Intraday, we see resistance for USDCAD at 1.2300/10 and we rather doubt the USD will have the legs to recover beyond that point today (despite the squeeze underway right now)”.
“Short-term trend momentum signals are aligned bearishly for USDCAD, adding to the heavy feel of the market, limiting recovery potential and upping the risk of a short-term (at least) downside overshoot”.
The FX Research Team at TD Securities suggested that the pair might find strong resistance in the 1.2300 area...
