Sell the rallies in USD/CAD – Westpac

Strategists at Westpac have recommended selling the pair on upticks to the 1.3000 mark.

Key Quotes

“Oil price gains leaving CAD in its wake, the former suggesting USD/CAD is more fairly valued nearer 1.25 whereas USD/CAD if anything is threatening 1.30. Favour selling strength in USD/CAD for the time being”.

“ Last week’s doji and short term momentum pointing to USD/CAD lower. Resistance at 1.30”.