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20 Jun 2013
Flash: USD/CAD, consolidation in order near term - TDS
FXstreet.com (Barcelona) - Short-term price action in USD/CAD suggests consolidation near term, says Shaun Osborne, Chief FX Strategist at TDS.
Osborne continues to give a positive read in the USD/CAD from a broader context though, anticipating that "the corrective move lower from the 1.0420 area may be complete following the rebound in the market from the low 1.01 area."
Amid this constructive bullish scenario, Osborne thinks "it should help limit losses on the one hand but leave gains a little harder to come by on the other—unless or until USD/CAD can make more progress above the 1.0250/80 region."
Osborne continues to give a positive read in the USD/CAD from a broader context though, anticipating that "the corrective move lower from the 1.0420 area may be complete following the rebound in the market from the low 1.01 area."
Amid this constructive bullish scenario, Osborne thinks "it should help limit losses on the one hand but leave gains a little harder to come by on the other—unless or until USD/CAD can make more progress above the 1.0250/80 region."