According to strategists at Westpac, bullish attempts towards 1.2920 could be considered as selling opportunities. Key Quotes “Our USD/CAD stance has shifted 180 degrees”. “Our model remains upbeat but our macro and technical views are much more negative”. “USD/CAD momentum remains decisively lower, the break of 1.2850 a critical technical threshold that should unlock further losses”. “Upgraded BoC growth projections this week thanks to the Trudeau fiscal stimulus and a strong Jan GDP (+0.6%) should add yet more impetus to USD/CAD weakness”. “The BoC should still deliver a neutral signal on policy but growth could be upgraded from 1.4% for 2016 to around 1.8% while the 2.4% forecast for 2007 could easily be lifted to 2.8%”. “We look to sell USD/CAD at 1.2925, stop 1.3055”. For more information, read our latest forex news.