USD/CAD trying to base? - TDS

FXStreet (Guatemala) - Strategists at TD Securities explained that they think USD/CAD is trying to base but gains through 1.1065/75 are needed to lift the USD a little more obviously from here.

Key Quotes:

”USD/CAD traded sharply higher from the low 1.10 area yesterday, leaving a small bull reversal signal on the 6-hour chart (“hammer” candle signal—a feature that is replicated on the daily chart)”.

“Gains remain capped in the 1.1065 area—around the initial, short-term retracement resistance and trend channel—however, with that zone of resistance continuing to cap the USD rebound today”.