I don't trade this pair but I always liked it and I have eyes on it for more than 9 years.
There are fundamentals that drive this pair these days:
1. NAFTA renegotiations and Trump is looking for cheap $$
2. BOC is on the progressive rate hike
3. FED made the rate hike conditional. Inflation is far from FED target (2%)
4. Korea peninsula crisis and soon middles east (IRAN) crisis will make $ even weaker
1.195 will most likely happen in a few days
1.16 is likely in a few weeks
If you want to carry less risk and you are in love with CAD, trade AUDCAD.
There are fundamentals that drive this pair these days:
1. NAFTA renegotiations and Trump is looking for cheap $$
2. BOC is on the progressive rate hike
3. FED made the rate hike conditional. Inflation is far from FED target (2%)
4. Korea peninsula crisis and soon middles east (IRAN) crisis will make $ even weaker
1.195 will most likely happen in a few days
1.16 is likely in a few weeks
If you want to carry less risk and you are in love with CAD, trade AUDCAD.
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