USD/CAD: Overbought but seen sideways into year end – Rabobank
Rabobank’s FX Strategy team observes that CAD net shorts have risen again after a recent collapse. USD/CAD has continued to grind higher, gaining 2.77% from recent lows to 1.414, with the 14‑day RSI indicating overbought conditions.
Rabobank's FX Strategy team has noted a rise in CAD net shorts following a recent decrease. The USD/CAD pair has been steadily increasing, jumping 2.77% from its recent lows to 1.414. The 14-day RSI indicates that USD/CAD is currently overbought, signaling a possible brief reversal in the near term. However, Rabobank anticipates a short-lived pullback before USD/CAD eventually trades sideways between 1.41 and 1.42 through the end of the year.
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