USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
AUD/CAD reached buy target 1.0000
2019-11-11 • Updated
- AUD/CAD reached buy target 1.0000
- Next sell target - 0.9890
AUD/CAD recently sharply reversed down from the resistance area lying between the parity (previous buy target), upper daily Bollinger Band and the 50% Fibonacci correction of the previous sharp downward impulse from last May. AUD/CAD is expected to fall further toward the next sell target at the next support level 0.9890 (former resistance level from September and November).
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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