20 Jul 2015
Buy the dips in USD/CAD, targets 1.3300 – TDS
FXStreet (Edinburgh) - In the opinion of strategists at TD Securities, pullbacks in the pair remain buying opportunities for a test of the 1.33 handle.
Key Quotes
“So, until the next major event risk we suggest looking at better levels to get long”.
“Dips will most likely be bought towards the 1.2950 area. Note that funds is trading above our daily fair value estimate of 1.2910”.
“We will likely need to see a break through 1.3010 before opening significant upside potential to 1.3065”.
“From there, we look for 1.3250/1.3300 as the next major level but as we noted above we think that will require a strong indication from the Fed that it will begin tightening by September”.
Key Quotes
“So, until the next major event risk we suggest looking at better levels to get long”.
“Dips will most likely be bought towards the 1.2950 area. Note that funds is trading above our daily fair value estimate of 1.2910”.
“We will likely need to see a break through 1.3010 before opening significant upside potential to 1.3065”.
“From there, we look for 1.3250/1.3300 as the next major level but as we noted above we think that will require a strong indication from the Fed that it will begin tightening by September”.