USD/CAD: buy the dips towards 1.3650 – Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 23, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    In view of strategists at Westpac, pullbacks to the mid-1.3600s are regarded as buying opportunities.

    Key Quotes

    “The run of softer Canadian data should continue through into next week's Q4 GDP outcome, however the stronger than expected CPI and what feels like a more stable near term outlook for energy markets will leave the Bank of Canada neutral”.

    “The risks of a short term push below 1.3650 appear to be rising, but we would view such a move as an opportunity to buy into weakness. Neutral at current levels”.

    USD/CAD seems to have found a base around 1.3640/50, according to short term charts. Short and medium term momentum also suggesting sideways trade”.
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