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Flash: USD/CAD drive to 1.0600 still plausible – TD Securities

FXstreet.com (New York) – The USD/CAD trading remains quite choppy, thus far, searching for direction amidst mixed signals, notes the TD Securities Team.

Key quotes

“The USD looked well-offered in late trade yesterday as it slid back to the 1.0475 area but the sell-off did not extend at all through the overnight session (38.2% retracement support of last week’s rally at 1.0473 held), allowing the market to recover modestly through European dealing earlier.”

“The early trade in North America has been to retest the upper 1.04 zone but, again, follow through interest is lacking. We look at the drift back in spot …read more