TD Research uses its High-Frequency Fair Value Model (HFFV) to examine some of the drivers, and dissect the inputs of the model to get a better sense of the variables driving the daily price action in USD/CAD.
The details from TD HFFV model that shows USD/CAD is fairly priced against cyclical drivers, leaving data, external drivers and the BoC’s July meeting to set the tone.
“Look to fade rallies on moves back to the 1.3250 area,” TD advises.
Source: TD Securities Research
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