USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
AUD/CAD broke above parity
2019-11-11 • Updated
- AUD/CAD broke above parity
- Next buy target - 1.0200
AUD/CAD continues to rise inside the sharp upward impulse wave 3 which previously broke above the parity. The active minor impulse wave 3 belongs to the intermediate impulse wave (C) from the start of February. AUD/CAD is expected to rise toward the next buy target at next resistance level 1.0200 (which stopped the earlier sharp upward correction 2 at the start of June).
All eyes are headed toward the Bank of Canada today. Estimates point to no change both for the main rate and the ongoing QE which stands at $3B weekly.
USD/CAD managed to advance further yesterday breaking above 1.21, reaching as high as 1.2128 earlier today, while our long signal that was issued at 1.2060 is now in profit with over +60 pips.
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