![USDCAD daily chart Aug 5](https://images.forexlive.com/images/USDCAD%20daily%20chart%20Aug%205_id_3099f5a6-5a1b-481d-9a8f-7a328a411de4_size900.jpg)
MUFG Research recommends buying USD/CAD in its weekly top FX pick. The firms says to buy the pair at spot with a target of 1.3420 and a stop at 1.2600.
„We are recommending a long USD/CAD trade idea to reflect our view that the USD will extend its rebound in the coming weeks, ” MUFG wrote.