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6 Feb 2015
Upbeat US NFP data might push USD/CAD towards 1.26 – TDS
FXStreet (Barcelona) - According to Shaun Osborne, Chief FX Strategist at TD Securities, a greater than consensus US NFP print might lead USD/CAD to push above the 1.25 resistance towards 1.26 levels.
Key Quotes
“For the session ahead, we again look for relatively better than consensus data from the US and a downside miss versus the street on Canadian jobs and, if we do see such an outcome today, we would expect funds to push higher to resistance near 1.25; above here and gains should extend towards 1.26.”
“In the event of neutral or another mix of USD-negative/CAD-positive data, price action suggests the risk is for a drop back to the low/mid 1.23 area—major support, we feel.”
Key Quotes
“For the session ahead, we again look for relatively better than consensus data from the US and a downside miss versus the street on Canadian jobs and, if we do see such an outcome today, we would expect funds to push higher to resistance near 1.25; above here and gains should extend towards 1.26.”
“In the event of neutral or another mix of USD-negative/CAD-positive data, price action suggests the risk is for a drop back to the low/mid 1.23 area—major support, we feel.”