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26 Jun 2013
Flash: USD/CAD, 1.0650/1.0750 may be seen before correction - TDS
FXstreet.com (Barcelona) - USD/CAD retains a very strong underlying bid tone, with recent gains through 1.0510/15 the cue for a
further push higher, possibly to new highs, according to Shaun Osborne, Chief FX Strategist at TDS.
Trend momentum remains very strong across the short, medium and long-term studies, suggesting this remains a buy-on-dips market, with some risk of a drop to the 1.0430/50 area if the low 1.05 area holds today" Osborne said.
Osborne adds that given the strength of the underlying trend, "it implies a strong, sustainable trend in place for the USD, with 1.0650/1.0750 may be seen before the market corrects."
further push higher, possibly to new highs, according to Shaun Osborne, Chief FX Strategist at TDS.
Trend momentum remains very strong across the short, medium and long-term studies, suggesting this remains a buy-on-dips market, with some risk of a drop to the 1.0430/50 area if the low 1.05 area holds today" Osborne said.
Osborne adds that given the strength of the underlying trend, "it implies a strong, sustainable trend in place for the USD, with 1.0650/1.0750 may be seen before the market corrects."