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Jul 14 - 06:55 PM

USD/CAD: Looking To Enter For Fresh Shorts Targeting 1.2150- Credit Suisse

By eFXdata  —  Jul 14 - 03:00 PM

Credit Suisse maintains a core bearish bias on USD/CAD and looks to enter short on rallies into 1.2633.

"The main risk to our bullish CAD view is positioning, which despite the shift in FX vol space, remains anecdotally long CAD: we acknowledge this likely means that reaching our 1.2150 USDCAD target for Q3 will take some time," CS notes. 

"In the meanwhile, we look at the 200-day moving average at 1.2633 as a valid entry points for fresh USDCAD shorts," CS adds. 

Source:
Credit Suisse Research/Market Commentary

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