USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
AUD/CAD reached sell target 0.9770
2019-11-11 • Updated
- AUD/CAD reached sell target 0.9770
- Next sell target - 0.9700
AUD/CAD has been under strong bearish pressure lately – following the earlier breakout of the key support level 0.9770 (which reversed the pair sharply in the middle of October and which was set as the sell target in our previous forecast for this currency pair). AUD/CAD is expected to fall further toward the next sell target at the next powerful support level 0.9700 (which revered the previous multiple waves from the middle of September, as can be seen below).
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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