Dollar Versus Loonie and Aussie June 13th

FX Strategy Video > Currency Pairs Analysis

USD/CAD fell during the session on Tuesday as the oil markets bounced for the session. The oil markets have been sold relentlessly over the last several sessions, but the markets cannot move in one direction forever. The bounce needed to happen after all, but the risk is still to the downside in the oil markets, and as such we think the CAD will lose value. We are buying supportive candles at the handles in this pair.

AUD/USD had a fairly strong session on Tuesday as well, and it looks as if the "hopium" trade pushed the pair higher. However, the parity and 1.02 levels will have to be overtaken for us to be comfortable buying.

Published on 13th of June 2012
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