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31 Mar 2014
USD/CAD still looks soft – TDS
FXStreet (Guatemala) - Strategists at TD Securities explained that the USD/CAD still looks soft on the daily chart.
Key Quotes:
“A firmer close today or, at least, avoiding a very soft close would be a plus for the USD in countering what remains a fairly heavy looking short-term chart”.
“Trend support off the Jan-March consolidation base continues to provide some underpinning for the market after last week’s big USD long liquidation trade”.
“The 40-day MA at 1.1081 today underscores the depth of resistance above the market”.
Key Quotes:
“A firmer close today or, at least, avoiding a very soft close would be a plus for the USD in countering what remains a fairly heavy looking short-term chart”.
“Trend support off the Jan-March consolidation base continues to provide some underpinning for the market after last week’s big USD long liquidation trade”.
“The 40-day MA at 1.1081 today underscores the depth of resistance above the market”.