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USD/CAD buy dips around 1.3360/1.3400 – TDS

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Strategist at TD Securities Mazen Issa has argued the area of 1.3360/1.3400 could represent buying opportunities.

    Key Quotes

    “From a technical point of view the daily RSI and stochastic indicators are approaching oversold territory”.

    “The 1.3360/1.3400 region is a key zone that should act as a significant attractor for dip buyers we think”.

    “We think the washout in positioning in recent weeks offers greater scope for cleaner push higher in USDCAD towards the 1.38/40 region. We view a dip towards 1.3230 as a key reassessment level”.
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