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12 Dec 2014
USD/CAD firm support sighted at 1.1500 - TDS
FXStreet (Guatemala) - Analysts at TD Securities explained that USD/CAD will remain a slave to oil price moves.
Key Quotes:
“The charts are unequivocally bullish”.
“USD/CAD looks set to close the week out well above the upper 1.14 resistance zone that served as a cap on the market through November; trend momentum signals are bullishly aligned across a range of timeframes—a situation that typically allows for only shallow and short-lived counter-trend corrections”.
“We look for firm support in the low/mid 1.15s near term and look for the USD to grind higher towards 1.17/1.18”.
Key Quotes:
“The charts are unequivocally bullish”.
“USD/CAD looks set to close the week out well above the upper 1.14 resistance zone that served as a cap on the market through November; trend momentum signals are bullishly aligned across a range of timeframes—a situation that typically allows for only shallow and short-lived counter-trend corrections”.
“We look for firm support in the low/mid 1.15s near term and look for the USD to grind higher towards 1.17/1.18”.