Forex Flash: USD/CAD may bounce before dipping to 0.9750/00 – TD Securities

FXstreet.com (Barcelona) - As investors are already heavily invested in long risk/short safe-haven positions due to central bank balance sheet expansion, TD Securities analysts see positioning as a factor in the CAD: "We have favored selling USDCAD over the past few weeks but turned a little more cautious late last week as the market bounced from the 0.9840 areaour near-term target and retracement support", wrote analysts Shaun Osborne and Greg Moore, now seeing that USD weakness may have to wait before allowing a drop to 0.9750/00. "The USDCAD seems to have set a clear short-term low now and the risk of further corrective gains through 0.9900/50 appears quite high", they added.