RBC trade of the week: Sell AUD/CAD

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RBC added a short AUD/CAD position in its trade of the week portfolio targeting a move towards 0.8600, with a stop at 0.8850.
</p><p>"The bounce in the AUD-crosses over the last two weeks looks ripe to sell as we await key data in China later in the week," RBC notes.</p><p>
"We retain a bias toward USD gains, possibly reinforced this week by month-end flow, which would generally imply CAD outperformance on the G10 crosses," RBC adds.</p><p>For bank trade ideas, <a href="https://plus.efxdata.com/ad/track/4655172E54F06040571CD0AB083845AD" rel="nofollow" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://plus.efxdata.com/ad/track/4655172E54F06040571CD0AB083845AD&amp;source=gmail&amp;ust=1693493829131000&amp;usg=AOvVaw0T97rwfkcA8-lhh3R8OD6n">check out eFX Plus</a>. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. <a href="https://plus.efxdata.com/ad/track/4655172E54F06040571CD0AB083845AD" rel="nofollow" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://plus.efxdata.com/ad/track/4655172E54F06040571CD0AB083845AD&amp;source=gmail&amp;ust=1693493829131000&amp;usg=AOvVaw0T97rwfkcA8-lhh3R8OD6n">Get it here</a>.</p>

This article was written by Adam Button at www.forexlive.com.