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11 Mar 2014
Flash: - TDS
FXStreet (Guatemala) - Strategists at TD Securities explained that the USD/CAD daily pattern of trade suggests firmer resistance around 1.1140/45 (short-term resistance not above on the 6-hour chart will converge tomorrow) but we think the overall pattern is constructive here too.
Key Quotes:
“We spot daily support at 1.1053 (40-day MA), key support at 1.0970 (trend). Strong gains last month from the low 1.09 area suggest a major low/bull reversal is in place”.
“Strong gains last Friday back through the 40-day MA and trend suggest a “false break” lower earlier last week”.
“We think gains through 1.1140/45 should trigger new highs”.
Key Quotes:
“We spot daily support at 1.1053 (40-day MA), key support at 1.0970 (trend). Strong gains last month from the low 1.09 area suggest a major low/bull reversal is in place”.
“Strong gains last Friday back through the 40-day MA and trend suggest a “false break” lower earlier last week”.
“We think gains through 1.1140/45 should trigger new highs”.