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14 Mar 2014
Flash: USD/CAD a bull wedge - TD Securities
FXStreet (Guatemala) - Strategists at TD Securities explained USD/CAD is little changed on the daily chart.
Key Quotes:
“The 40-day MA continues to underpin the USD in the upper 1.10 area, alongside trend support off the January low”.
“We still view the current consolidation phase as a bull wedge/triangle formation that marks a short-term pause in the bull trend. Gains through 1.1145 (similar levels to the 6-hour chart, above) should trigger a renewed upside push”.
“We think break out pressure builds significantly next week”.
Key Quotes:
“The 40-day MA continues to underpin the USD in the upper 1.10 area, alongside trend support off the January low”.
“We still view the current consolidation phase as a bull wedge/triangle formation that marks a short-term pause in the bull trend. Gains through 1.1145 (similar levels to the 6-hour chart, above) should trigger a renewed upside push”.
“We think break out pressure builds significantly next week”.