TD:We still expect firm support on dips to the low 1.09 area—1.0925/35 intraday—and, with the underlying trend up in USDCAD still.....

Comment by Daologic on August 11, 2014 at 11:57am
Despite the poor jobs data Friday, USDCAD gains could not extend through the August 6th high and the market has spent the first few hours of trading this week in consolidation mode. We still expect firm support on dips to the low 1.09 area—1.0925/35 intraday—and, with the underlying trend up in USDCAD still deeply entrenched in the market, we expect a push on the low 1.10s shortly and a rise to the 1.11/1.12 area in the next few weeks.

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