USD/CAD: More oil weakness to keep the pair buoyant – OCBC

The USD/CAD is in play given the oil situation. Prefer to buy on dips for now, pending resolution on the oil front, Terence Wu from OCBC Bank reports.

Key quotes

“Renewed weakness in the crude complex should keep the USD/CAD buoyant.” 

“Technicals are supportive for further upside, though the up-trend would be stronger if the pair can breach 1.4200.”

“Interim target at 1.4200, while support levels enter at 1.4050 and then 1.4000.”