We like USDCAD shorts due to three main factors: a dovish shift from FOMC that is weighing on the USD; tensions in Venezuela which are keeping Crude Oil prices up; and finally better domestic data from Canada.
Shorts should keep USDCAD compressed between 1.3100 and 1.3140s on any retracement.
Targets are initially 1.3050, 1.3000.
Shorts should keep USDCAD compressed between 1.3100 and 1.3140s on any retracement.
Targets are initially 1.3050, 1.3000.
