Dollar Versus Loonie and Aussie October 3rd

FX Strategy Video > Currency Pairs Analysis

USD/CAD rose again during the session on Tuesday, but stays stuck in the 50 pip range between the 0.98 and 0.9850 levels. The market simply looks like it is currently waiting on the results of the Non-Farm Payroll numbers as the two economies are so interconnected.

The AUD/USD pair fell hard after the RBA cut rates. The 1.03 level that broke down for support looks very likely to turn into resistance as well. Because of this, we may see a slow grind lower for a while. The gold markets will keep the Aussie from falling apart though.

Published on 2nd of October 2012
eTorro - Trading Starts Here

Start Trading Forex with up to $10,000

  • 100s Videos and FX Strategy articles
  • Advice from our FX traders
  • Practive free with using real time