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23 Feb 2015
USD/CAD might move towards 1.27 – TDS
FXStreet (Barcelona) - Shaun Osborne, Chief FX Strategist at TD Securities, shares the technical outlook for USD/CAD, expecting the pair to push towards 1.27 quickly on a break above 1.26.
Key Quotes
“Technically, USDCAD may struggle to push through short-term resistance at 1.2595/00 today but trend momentum is building positively for the USD on the short-term charts and a push through 1.26 should see spot move on to 1.27 resistance fairly quickly in the event of a break higher.”
“After two strong rebounds from 1.2350/60 over the past month, a push through 1.27 (double bottom trigger) will be supportive of push above 1.30.”
Key Quotes
“Technically, USDCAD may struggle to push through short-term resistance at 1.2595/00 today but trend momentum is building positively for the USD on the short-term charts and a push through 1.26 should see spot move on to 1.27 resistance fairly quickly in the event of a break higher.”
“After two strong rebounds from 1.2350/60 over the past month, a push through 1.27 (double bottom trigger) will be supportive of push above 1.30.”