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Forex: Bias still bullish on USD/CAD – TD

By FXstreet.com,  June 13, 2012, 02:37:00 PM EDT

FXstreet.com (San Francisco) - USD/CAD has traded an intraday range between 1.0240 and 1.0285 last quoted in the 1.0272 area, largely unchanged from the close late Tuesday as it trades on broader market sentiment in the absence of domestic data.

"Although USD/CAD slipped back steadily yesterday, that does not alter our view that an important short-to-medium term low is in here," says TD Securities. "We still think that the gap opened up over the weekend still constitutes a strong support zone for the USD and that minor USD dips - to the 1.0230/50 area - are a buy."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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