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USD/CAD back to 1.0580

FXstreet.com (Edinburgh) -The 1.0600 mark still remains elusive for the USD/CAD, with the pair now fading the earlier bull attempt and returning to the 1.0580/85 area.

USD/CAD pips away from 2013 highs

The pair is prolonging its rebound from October’s troughs below 1.0300 the figure, advancing in 4 out of the last 6 weeks and faltering in levels just shy of the ytd tops at 1.0609 (July 5th). Strategists G.Moore and S.Osborne at TD Securities observed, “Trend momentum remains bullishly oriented on the short-term charts but the strength of the rally has faded modestly this week… We still rather think that …read more