Flash: USD/CAD bullish on charts – TD Securities

FXstreet.com (London) - TD Securities research teams say that, on the charts, they still view broader developments in USD/CAD as technically positive and remain bullish on the outlook overall.

They suggest a push to new highs would add to the positive short-term momentum we think and setbacks in the USD should be limited to the mid/upper 1.02 area for the moment—trend resistance turned support. They spot intraday resistance at 1.0310/20 and 1.0341 and say a weekly close above 1.0310 would be constructive for USD/CAD from a longer-term point of view.

May 22, 2013

GBP/JPY back on track

Although the pound has been sighted at risk due to a dovish tone from BoE minutes, the GBP/JPY cross has benefitted where JPY supply has appeared in the afternoon session in London.

Flash: QE tapering a reality or rumor? – Deutsche Bank

“In terms of the Fed, relatively dovish comments from the NY Fed's Dudley and St Louis Fed's Bullard – both FOMC voters – helped put a floor on risk assets yesterday.” notes Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank.