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1 Apr 2015
CAD in a technical snapshot – TDS
FXStreet (Barcelona) - FX Strategists at TD Securities noted that USD/CAD technicals suggest the pair might favour the downside in the near-term.
Key Quotes
“A break of hourly support in USDCAD around 1.2640 signals more downside potential near-term; bigger picture technicals remain negative and we continue to look for a drop back towards 1.2350/00 (at least) in the next few weeks."
“EURCAD retains a weak technical profile; losses will accelerate below 1.3580.”
“AUDCAD is testing support near 0.96; we think a drop towards 0.94 is on the cards.”
“GBPCAD turns lower after recent gains run out of momentum.”
“CADJPY looks stalled near the low end of the recent range but downside risks remain significant.”
Key Quotes
“A break of hourly support in USDCAD around 1.2640 signals more downside potential near-term; bigger picture technicals remain negative and we continue to look for a drop back towards 1.2350/00 (at least) in the next few weeks."
“EURCAD retains a weak technical profile; losses will accelerate below 1.3580.”
“AUDCAD is testing support near 0.96; we think a drop towards 0.94 is on the cards.”
“GBPCAD turns lower after recent gains run out of momentum.”
“CADJPY looks stalled near the low end of the recent range but downside risks remain significant.”