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12 Jun 2013
Flash: USD/CAD has found a short term base - TDS
FXstreet.com (Barcelona) - USD/CAD’s price action suggests the pair has found a temporary bottom, says Shaun Osborne, chief FX strategist at TDS. For potential upside targets, Osborne likes the 1.0260/70 resistance.
According to Osborne, "the pop higher from yesterday’s tight consolidation is a constructive sign and the fact that yesterday’s low also sits right on the 61.8% retrac of the 1.01/1.04 rally adds further support that the pair has found a short term base."
According to Osborne, "the pop higher from yesterday’s tight consolidation is a constructive sign and the fact that yesterday’s low also sits right on the 61.8% retrac of the 1.01/1.04 rally adds further support that the pair has found a short term base."