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2 Apr 2015
USD/CAD to hold the 1.2350 support – Westpac
FXStreet (Barcelona) - Richard Franulovich of Westpac, expects that with USD pullback risks in sight, USD/CAD might exhibit a dovish tone.
Key Quotes
“USD/CAD looks like it may well continue for another week inside what is now a near two month range bounded by 1.2350 and 1.2850.”
“Heightened near term risk of a broader USD pullback, as the US data continues to disappoint and the FOMC minutes expand on the last meeting’s dovish tilt could see USD/CAD easily testing the bottom of recent ranges. Suspect the lows will hold.”
Key Quotes
“USD/CAD looks like it may well continue for another week inside what is now a near two month range bounded by 1.2350 and 1.2850.”
“Heightened near term risk of a broader USD pullback, as the US data continues to disappoint and the FOMC minutes expand on the last meeting’s dovish tilt could see USD/CAD easily testing the bottom of recent ranges. Suspect the lows will hold.”