USD/CAD is a buy on dips in low 1.2400’s – TDS

FXStreet (Guatemala) – Analysts at TD Securities explained that USD/CAD failed to make progress above 1.25 yesterday and slumped back as the USD slid broadly; we think this is a temporary setback.

Key Quotes:

“And one that is likely to remain a short-term bump in what remains a well-entrenched the bull road for the USD.”

“We remain long USD/CAD from our May 19th buy recommendation and continue to look for 1.28+ over the course of the summer.”

“Intraday, look to buy dips to the low 1.24s; below 1.2390, USD/CAD risks retesting 1.2300/15 where we currently see fair value.”

Analysts at TD Securities explained that USD/CAD failed to make progress above 1.25 yesterday and slumped back as the USD slid broadly; we think this is a temporary setback.

(Market News Provided by FXstreet)