AUDCAD daily chart
AUD/CAD daily

In their weekly FX pick, analysts at MUFG suggest selling the Australian dollar against its Canadian counterpart.

They suggest selling the pair with a target of 0.8650 and a stop at 0.9260.

The pair fell to the lowest since May 2020 on Friday.

"We would expect the tolerance for a dovish stance will be much less evident from the Bank of Canada than the Reserve Bank of Australia and that should be clear," they wrote.

The RBA meets tomorrow and the BOC on Wednesday.

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