Dollar Versus Loonie and Aussie April 11th

FX Strategy Video > Currency Pairs Analysis

USD/CAD rose during the session as the oil markets fell. The breaking of the parity level on a daily close is a big deal, and the 200 day EMA is now below the current price. This bodes well for the bulls, and now the last hurdle for us is the 1.01 level. If that gives, this pair climbs higher.

The AUD/USD pair fell hard during the Tuesday session, but now sits on top of the 50% Fibonacci retracement level. The pair looks weak, and as a result it is going to be difficult to buy at the moment. As long as the commodity markets struggle, the Aussie will too.

Published on 10th of April 2012
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