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USD/CAD: buy the dips to 1.3500 – Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Robert Rennie and Imre Speizer, strategists at Westpac, suggest that pullbacks to the 1.3500 level could be buying opportubnities.

    Key Quotes

    USD/CAD has enjoyed a good run lower over the past month and could extend beyond minor support at 1.3640 to 1.3500, particularly if the recent rebound in oil prices continues”.

    “However, we would be buyers at 1.3500, if seen, ahead of the next BOC meeting on 9 March”.

    “We still expect to see softer data (business surveys fl ag more soggy jobs reports in coming months) and thus a softer tone from the BoC”.
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