Dollar Versus Loonie and Aussie April 3rd

FX Strategy Video > Currency Pairs Analysis

USD/CAD fell fairly hard for the Monday session, but let's face it - this pair is "stuck" at the moment. The 0.9850 level simply must give way for us to think it fall much further, and a rise in this pair isn't feasible until we get a daily close post-1.01 or so. The selling of this pair at the parity level has been paying off, so that's what we do for short-term gains.

AUD/USD formed a gap form the weekend as the Chinese PMI numbers came out better than expected. Since then, the pair has filled the gap - only to form a hammer.

Published on 2nd of April 2012
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