USD/CAD: 1.50 appears on the horizon – Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 21, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - In opinion of Strategist at Westpac Richard Franulovich, dips in the pair could represent buying opportunities for a potential test of 1.50.

    Key Quotes

    “The economy looks like it has limped into year’s end in a very forlorn state”.

    “Upcoming GDP, retail sales and jobs data should spotlight ongoing recessionary conditions”.

    USD/CAD looks very overdone to the topside and may be populated with a lot of “tourists” but dips are likely to be shallow and should be bought for a run at 1.50 into Q2 2016”.

    “Even the steady hand from the BoC saw only a small pullback in the pair relative to the run up over the month”.
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