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28 Aug 2013
Flash: USD/CAD bullishness intact – TD Securities
FXstreet.com (New York) - For all the short-term chop, the broader bull trend is—just about—holding in a broader sense, suggests the TD Securities Team.
Key quotes
“Short, medium and long-term trend momentum USD/CAD studies remain bullishly aligned but the short-term measures may flip to neutral if spot slides more in the next day or so.”
“If the market is to bounce, this is a good spot for the rebound to start getting some traction from a technical point of view.”
“A firm bid (so far) off the intraday lows lends a positive undertone to price action so far today. We warn of the key daily support (1.0440/45), which converges with short-term support.”
Key quotes
“Short, medium and long-term trend momentum USD/CAD studies remain bullishly aligned but the short-term measures may flip to neutral if spot slides more in the next day or so.”
“If the market is to bounce, this is a good spot for the rebound to start getting some traction from a technical point of view.”
“A firm bid (so far) off the intraday lows lends a positive undertone to price action so far today. We warn of the key daily support (1.0440/45), which converges with short-term support.”