Price is falling because...The Boc is trying to soft land the price of oil with the Canadian dollar. But unfortunately this throws the banks under the bus because they are traded on both USA and America Exchanges. Every time the USA dollar rises a penny the price of TD shares falls say 1%. The problem is even professional FX traders seem clueless as to where the Canadian dollar is heading. Some say 1.3 to 1.4, But tomorrow they will say something different. Six months from now they will probably say $1.5. And the other issue is that there is a huge short position on Canadian banks right now. TD has 43 million shares short as of Jan 15. If you are an American and short the Bank you make profit on the short and you make profit on the currency swing as you will cover with Canadian dollars that are cheaper than when you shorted. I think the TD bank will trade between 50 and 54 but if it breaks 50 than 40 will be the next support. Will probably be rough trading until the next earnings release. The volatility will be wild if they miss another earnings. I still think TD bank is one of the best stocks in Canada but the trend is your friend and clearly there are some headwinds.