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Forex

Rabobank Sees Sideways Trading for USD/CAD Through Year End

Guavy AI Editorial Team
Instruments
USD CAD
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Rabobank's FX Strategy team is observing that CAD net shorts have increased again after a recent decline, which has led to USD/CAD continuing its upward trend. The currency pair has gained 2.77% from its recent lows, reaching 1.414.

The 14-day RSI (Relative Strength Index) suggests that USD/CAD is currently overbought, indicating a possible short-lived reversal in the near term. However, Rabobank expects this pullback to be brief and ultimately sees USD/CAD trading sideways between 1.41 and 1.42 through year end.

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