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AUD and CAD in opposite directions – TDS

FXStreet (Edinburgh) - Strategists at TD Securities see different perspectives for the Canadian dollar and the Aussie dollar.

Key Quotes

“We maintain our longstanding CAD bearishness and expect it to underperform both against the USD and on certain key crosses. In addition to expecting USDCAD to move higher in coming weeks on a break of 1.3355, we think AUDCAD is likely to continue its upward march. After the pullback to the 0.9260 area, we may be at a good entry point for a rebound above 0.96”.

“With the RBA likely to remain on hold and some initial signs of stabilization in some key commodities such as iron ore, the AUD may also enjoy some better performance – at least on certain crosses. In addition to AUDCAD, we think AUDNZD is poised to move higher in coming weeks and see potential for a rise above 1.16”.

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