Forex Flash: USD/CAD losses should remain relatively shallow intraday - TDS

“USD/CAD remains relatively well supported,” say Toronto FX Research Team at TD Securities, “on the basis of the bullishly-oriented DMI oscillator,” they add, “so we rather think that losses should remain relatively shallow intraday,” the team concludes.

Nonetheless, they also note: “Weakness below 1.0045 does, however, suggest the risk of a modestly deeper pullback in the next day or two,” though, “For the moment, we remain constructive and look at modest USD weakness as a buying opportunity still.”