Forex Flash: USD/CAD weakness should be sustainable in the short-term – TD Securities

FXstreet.com (Córdoba) - USDCAD weakness below the base of the late November/early December trading range should be sustainable in the short run at least, according to the TD Securities team. "With the 0.9900 support zone finally broken after a few failed tests of the topside of the range, the short-term pattern of trade here suggests a dip to 0.9840 at least (considering 0.9960 as a minor double top and the neckline trigger at 0.9900)".

"Trend momentum is picking up bearishly for the cross in the short-run, reflecting similar positions on the longer-term charts", they comment. "Expect resistance now at 0.9890/00".