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Dec 08 - 12:55 AM

USD/CAD: Switching To A Neutral Bias; Levels To Watch - Credit Suisse

By eFXdata  —  Dec 07 - 04:30 PM

Credit Suisse discusses USD/CAD outlook and shifts to a neutral bias in the near-term.

"Until there is more clarity on the possible global demand impact of Omicron, we think switching to neutral bias in USDCAD is the most appropriate option," CS notes. 

"We see USDCAD re -testing 2021 highs at 1.2949 if Omicron related fears prove persistent, and think that dips in the opposite direction are likely to find support around 1.2530 (near the 50dma on daily and weekly charts alike) at least until more clarity around the BoC’s mandate review is available," CS adds. 

Source:
BofA Global Research

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