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17 Apr 2015
BoC unlikely to cut rates year, short USD/CAD – Growth Aces
FXStreet (Barcelona) - The Growth Aces Research Team expects BoC to maintain rates steady throughout 2015, and further suggests going short on USD/CAD for 1.2000.
Key Quotes
“We maintain our forecast that the Bank of Canada will not cut interest rates this year. However, some market participants still expect such a move. That is why on-hold BOC policy should support the loonie.”
“In our opinion the USD/CAD is likely to decline in the medium term and we are looking to get short on upticks for 1.2000.”
“Resistance: 1.2205 (session high Apr 17), 1.2300 (psychological level), 1.2328 (high Apr 16)”
“Support: 1.2100 (psychological level), 1.2064 (low January 21), 1.2000 (psychological level)”
Key Quotes
“We maintain our forecast that the Bank of Canada will not cut interest rates this year. However, some market participants still expect such a move. That is why on-hold BOC policy should support the loonie.”
“In our opinion the USD/CAD is likely to decline in the medium term and we are looking to get short on upticks for 1.2000.”
“Resistance: 1.2205 (session high Apr 17), 1.2300 (psychological level), 1.2328 (high Apr 16)”
“Support: 1.2100 (psychological level), 1.2064 (low January 21), 1.2000 (psychological level)”