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$USDCAD push to 1.41 by month-end?
Been watching $USDCAD pretty closely lately, and it feels like we're building some real pressure for a move. With the current level around 1.40468, it's holding strong, but the daily range has been pretty tight, indicating either consolidation or a coiled spring. I'm leaning towards the latter. Given the broader macro picture, specifically with crude still looking a bit wobbly and any hint of dovishness from the Fed being quickly priced out, I'd put the odds of seeing a push to 1.41 before month-end at about 65%. It's not a slam dunk, obviously, but the momentum and the potential for a fresh catalyst to pop this resistance seem to be lining up. What are your thoughts on a sustained break out of this 1.40-1.405 range?
1 comments · 1 points
Yeah, it's definitely been consolidating for a bit. I'm wondering if we see some more strength from the USD side to push it higher, or if oil finds some footing and pulls CAD back up.