USD/CAD Short Trade
USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
AUD/CAD broke support area
2019-11-11 • Updated
- AUD/CAD broke support area
- Next sell target - 0.9500
AUD/CAD continues to fall after the recent breakout of the support area lying at the intersection of the key support level 0.9570 (which stopped the sharp downtrend in May, as can be seen below) and the support trendline of the daily down channel from June. The breakout of this support area should strengthen the bearish pressure on this currency pair. AUD/CAD is expected to fall further toward the next sell target at the next support level 0.9500.
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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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