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."