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2 Apr 2015
CAD in a technical snapshot – TDS
FXStreet (Barcelona) - FX Strategists at TD Securities share the technical outlook CAD crosses, maintaining a bearish bias on USD/CAD on a 1-3M view.
Key Quotes
“USDCAD trades heavily on the short-term charts, losses "confirm" rejection of/reversal from the 1.28 zone earlier in the week; risks still geared towards a drop to 1.2350/1.2450 at least and we remain bearish on a 1-3 month view.”
“EURCAD rebound intraday should remain capped below key resistance at 1.3765/75.”
“AUDCAD breaks support around 0.96, targets 0.94.”
“GBPCAD turns lower, corrective weakness perhaps still has room to play out.”
“CADJPY bounces but remains in a range.”
Key Quotes
“USDCAD trades heavily on the short-term charts, losses "confirm" rejection of/reversal from the 1.28 zone earlier in the week; risks still geared towards a drop to 1.2350/1.2450 at least and we remain bearish on a 1-3 month view.”
“EURCAD rebound intraday should remain capped below key resistance at 1.3765/75.”
“AUDCAD breaks support around 0.96, targets 0.94.”
“GBPCAD turns lower, corrective weakness perhaps still has room to play out.”
“CADJPY bounces but remains in a range.”