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Dec 21 - 09:55 AM

USD/CAD: 2 Reasons Why Longs Look Attractive Here - Citi

By eFXdata  —  Dec 21 - 08:57 AM

Citi flags an opportunistic long USD/CAD exposure around current levels.

"CitiFX Technicals had closed their portfolio for the year, but two things are too compelling," Citi notes. 

"1- The Short-term USDCAD chart completing a clear double bottom formation that further suggests that move could be coming

2- The Oil price chart rolling heavily also suggesting a danger of a sharp correction with WTI possibly going towards $46.74," Citi ads. 

Source:
Citi Research/Market Commentary

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