Forex Flash: USD/CAD still a buy on dips - TDS

FXstreet.com (Barcelona) - USD/CAD remains in consolidation mode, said Shaun Osborne, Chief FX Strategist at TDS; "we still prefer to buy dips but a push through resistance in the upper 1.02 zone near term should be USD-positive" Shaun notes.

Mr. Osborne adds: After bounce from retracement support at 1.0186, the market may be carving out a small Head & Shoulders continuation pattern (1.0282 neckline currently). The upside implications of the formation suggests a new cycle highs might be reachable in 1-2 weeks. However, short-term trend momentum is flat and this favours more range trading for the moment."

Mar 21, 2013

Forex: AUD/NZD breaks 1.2560 base; no clear demand until 1.2480/1.2500

Following the major recovery off 1.2120 year low, the AUD/NZD found temporary top ahead of 1.27 last week, from which the pair established a 3/4 day consolidation with a resilient base at 1.2560.

Forex: USD/JPY climbs again above 96.00

USD/JPY is last at 96.08 around fresh weekly highs price zone, few minutes away Japan returns from a bank holiday as the first day the new BoJ staff is on full force, following latest FOMC. The pair is up +0.98% from previous Asia-Pacific open yesterday, and about the same increase for the week. Japan's trade balance figures will be released at 23:50 GMT, while Nikkei futures point for a flat open around the 12400 points mark.