Morgan Stanley made a fundamental forecasl for this week related to USD/CAD - they estimated for this pair to be reversed to the bearish market condition:
- "A more dovish BoC meeting this week opens the way for us to consider a
more bearish CAD view in the fourth quarter. Stabilization in macro
markets, and the potential for fiscal stimulus from the new government,
could both offer near term support for CAD."
- "However, as data turn in the next few months, the central bank has made clear it is open to further easing, which should weaken the currency. We would look to scale into shorts on any dips."
From the technical points of view -
this pair is on bullish condition, and 100 period SMA together with 200 period SMA are far below the price - which means the following: the price for this pair is located on the bullish area of the chart, and any bearish reversal is unlikely in the near future for example.
