USD/CAD: 1.4000 will be key to watch on the downside – OCBC

The USD/CAD continues to play the range between 1.4100 and 1.4300 range, as the crude oil complex continues to fluctuate on shifting headlines, per OCBC Bank.

Key quotes

“Note that short-term implied valuations have capitulated lower. 1.4000 will be key to watch on the downside. A clear breach will signal a return of a downside bias.” 

“In the interim, expect further sideways movement for now.”