30 Apr 2015
USD/CAD target at 1.30, 12M view – Rabobank
FXStreet (Barcelona) - Short-term risks for USD/CAD might remain tilted towards 1.195, but the long-term bullish bias is retained, notes The Research Team at Rabobank.
Key Quotes
“On April 15 USD/CAD broke through the bottom of the channel in which the pair traded since early March and the currency pair subsequently traded down through 1.21. Although there is room for the pair to drift down to 1.195 in the very short term, our bias is still for USD/CAD to trade up towards the 1.30 handle on a 12-month view and we expect a move back to the channel on a 3-month basis.”
Key Quotes
“On April 15 USD/CAD broke through the bottom of the channel in which the pair traded since early March and the currency pair subsequently traded down through 1.21. Although there is room for the pair to drift down to 1.195 in the very short term, our bias is still for USD/CAD to trade up towards the 1.30 handle on a 12-month view and we expect a move back to the channel on a 3-month basis.”