The interest rate differential structure changes by the RBNZ and RBA interest rate cutting to place CAD at higher price than major currencies, excluding USD. It was originally estimated for EURCAD to be turned at 1.5200 but it was turned ahead of estimation caused by the the interest rate cutting by the RBA and RBNZ. The EURCAD will bearish down to 1.4900 and may break that level to downward in medium term. Breaking the 1.4900 is based on the current measurement of CAD stronger than major currencies in medium term as long as no interest rate changes to be made by central banks.
Short trade is in the card.
Short trade is in the card.