Forex Flash: USD/CAD firm support short term at 1.0050 – TDS

FXstreet.com (Barcelona) - With USD/CAD last at 1.0071, near “short-term trend support at 1.0074 on the hourly chart,” Toronto based FX Research Team at TD Securities note, the pair “retains a soft bias, with the near-term trend looking rather choppy just below 1.01,” the analysts add.

“The 1.0075 area should be good support on the day now while 1.0125 and 1.0150 are the key resistance points topside,” the team suggest, looking at “firm support now at 1.0050 near-term, with the 200-day MA (0.9989 today) below there. Gains through 1.0135/50 would be supportive of a bit more USD strength near-term,” they conclude.