Forex Flash: USD/CAD with broadening foundations for a rally – TD Securities

FXstreet.com (Barcelona) - TD Securities analysts see firm trend momentum on the daily chart and broadening foundations for a rally in the USDCAD after pushing above the 200-day MA (0.9984) today, with the 1.0053 peak reached in December now representing the near-term target and strong resistance for the market. "We note that the USD pushed through the 200-day MA rather easily last month before stalling", wrote the analysts, observing more more positively positioned trend momentum signals (DMI oscillator) for the USD, with support in the upper 0.99 area, and potential for a gap-filling dip to the 0.9950 area.