USD/CAD: TDS says pair's decline offers a good buying opportunity

TD Securities' strategists say that the USD/CAD retracements could very well be good opportunities to position oneself to buy the USD.

"We had to temporarily revise our optimism regarding the rise of the USD, but we will now seek to re-establish long USD positions in the coming weeks, as we firmly believe that the USD rally will continue in the latter part of the year".

"For USD/CAD buyers who thought they had missed a good opportunity in the 1.21/1.22 region, the current decline of the pair is an opportunity to position themselves at attractive levels".