Dollar Versus Loonie and Aussie May 31st

FX Strategy Video > Currency Pairs Analysis

USD/CAD shot straight up during the Wednesday session as the oil markets crashed. The $90 level finally gave way in the Light Sweet Crude markets, and this hit the CAD hard. However, the 1.03 level still holds as resistance - so far.

The AUD/USD pair is sitting on the 0.97 level, and looks absolutely horrible. If this level gives way, we could see a free fall in the right conditions. The Aussies have the extreme misfortune of being in a world with the rest of us.

Published on 30th of May 2012
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