FXStreet (Edinburgh) - Strategists at TD Securities now remain cautious on the pair in light of the recent strong rally. Key Quotes “For USDCAD, we have hit our 1.45 target and now believe some caution is warranted”. “Though we expect this week’s BoC to support spot at these levels, the speed of the rally in recent sessions and the growing divergence from our Fair Value (FV) estimate on the move higher gives us pause”. “The divergence between FV (1.4040+/-) and current spot levels is roughly 1.5 standard deviations away from average”. “This puts it close to levels where we start to look for reconvergence. Tactical players should tighten stops on USDCAD longs to 1.4200”. For more information, read our latest forex news.