USD/CAD Short Trade
USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
AUD/CAD looking for offers around 0.9630
2019-11-11 • Updated
AUD/CAD has been heavily sold during the last few days after having found a strong dynamic resistance in the 200 SMA at H1 chart. However, it took a pause at the 0.9553 level and a bullish retracement is taking place. Currently, the pair is looking for the Fibonacci level of 50% at 0.9629, where a pullback should put it on the way to reach the next target placed at the Fibonacci target of -23.6% at 0.9517.
RSI indicator stays in the positive territory, favoring to the bulls in the short-term.
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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 trade is in profit
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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