After Barclays issued a long USD/CAD recommendation (http://www.forextell.com/category/fx-trade-ideas/), Citibank and UBS are joining.
CitiFX Strategy: Long USDCAD at 1.2546 with a target of 1.2800 and a stop at 1.2400
UBS: USDCAD was rangebound in choppy trading last week, vulnerable to the moves in oil. The focus this week should shift back towards fundamentals with BoC’s Poloz scheduled to speak tomorrow and the inflation data due on Thursday. The pair remains a buy on dips – starting ahead of the uptrend line around 1.2450 and down to 1.2310 – with stops through 1.2250. The downtrend line is around 1.2600, a break of which will expose 1.28, the Jan. 30 high.
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