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28 May 2013
USD/CAD rebounds off lows to trade at 1.0343/52
FXstreet.com (Barcelona) - The USD/CAD has rebounded sharply off a session low of 1.0322 ahead of US trading Tuesday.
In these moments, the USD/CAD is now operating at 1.0343/52, en route to a modest gain of +0.05%. The Mataf.net analyst team posits the resistive means for the USD/CAD at 1.0375, onto 1.0392, and eventually 1.0423. Briefing some manner of a pullback, a break below the 1.0327 handle will activate support at 1.0296 and 1.0279.
“Despite the recent strength in the USD/CAD, we still rather look for limited weakness in pair at present. The underlying trend higher remains constructive across a range of timeframes still and that should mean solid support for USD/CAD on dips to the low 1.0300 area. We recommend looking to buy USD weakness.” notes the TD Securities Team.
In these moments, the USD/CAD is now operating at 1.0343/52, en route to a modest gain of +0.05%. The Mataf.net analyst team posits the resistive means for the USD/CAD at 1.0375, onto 1.0392, and eventually 1.0423. Briefing some manner of a pullback, a break below the 1.0327 handle will activate support at 1.0296 and 1.0279.
“Despite the recent strength in the USD/CAD, we still rather look for limited weakness in pair at present. The underlying trend higher remains constructive across a range of timeframes still and that should mean solid support for USD/CAD on dips to the low 1.0300 area. We recommend looking to buy USD weakness.” notes the TD Securities Team.