Trade idea from TD
It’s not the most-exciting pair but TD says buying AUD/CAD is its weekly best FX trade.
The pair is trading at 0.9485. They recommend buying it with a target of 0.9740 and a stop at 0.9430.
“Against a backdrop of renewed reason for a prolonged dovish Fed, a constructive technical breakout and commodity backdrop, we lean long AUD/CAD in our trade of the week,” they write.