Dollar Versus Loonie and Aussie October 11th

FX Strategy Video > Currency Pairs Analysis

The USD/CAD pair had a bullish session on Wednesday as the oil markets fell apart. This area we are trading in is resistance though, and as such it looks like we are "stuck" at the moment. We think that we need to see a move above the 0.9950 level in order to buy due to all of the noise. As for selling - a break of the 0.97 level would suffice.

The AUD/USD pair is currently treading water at the 1.02 level, and it looks like a pair that is truly struggling. The pair should continue to suffer because of the larger economic forces out there, and as such we think we see parity soon.

Published on 10th of October 2012
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