The loonie is the second best performing currency so far in 2021. Rabobank’s 1-3 month USD / CAD forecast remains at 1.26-1.27, but the risk in the coming weeks is biased upward with the pair is likely to be trading above the 1.27 level in the next two weeks.
Key statements:
“We expect price action in the next few two weeks make the USD / CAD mainly trade at the 1.27 level“.
“On the upside, key resistance is at 1.2750 ahead of 1.2840. We do not expect the pair to break 1.2880 in the next two weeks. “
“On the downside, 1.2575 offers key support ahead of the recent low of 1.2468, although we do not expect any of those levels to be tested in the next two weeks.”
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