Dollar Versus Loonie and Aussie August 22nd

FX Strategy Video > Currency Pairs Analysis

USD/CAD found itself falling again during the Tuesday session, but bounced late in the day in order to form a hammer that is based around the 0.99 level. The oil markets look a bit fatigued as well, so this could in fact work against the value of the CAD overall. In this scenario, we see a short-term opportunity in this pair to buy.

The AUD/USD pair had a strong day originally, but failed at the 1.05 level again. This area has been a thorn in the side of bulls, and it looks a bit suspicious at this point. We are sitting on support in the form of a bullish channel though, so today should be an important day for this pair.

Published on 21st of August 2012
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