USD/CAD consolidates as high impact data looms

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The USD/CAD is nudging lower today, alongside rising stocks and crude oil prices, after the pair surged higher as bonds and equities sold off worldwide." 
- Oded Shimoni, Junior Currency Analyst, (based on Daily FX)

Pair's Outlook

USD/CAD cut its way towards the upper trend-line of the four-month ascending channel short, expressing a slightly bearish attitude with further risk at 1.3130. In case the pair moves in favour of a profound channel continuation, supply pressures around 1.3207/18 will have to show some weakness against the pair's upward momentum, for the channel upper trend-line and 200-day SMA cluster to become attainable at 1.3266/73. A dissatisfying US fundamental data reading could, however, pull the rate as low as 1.3024/21 with several significant support levels lying just underneath.

Traders' Sentiment 

SWFX trader sentiment at the moment is 73% bearish. In the meantime, pending commands are 55% to sell the US Dollar.
© Dukascopy Bank SA
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Actual Topics

Thu, 15 Sep 2016 14:30:39 GMT

Triangle holds stable for AUD/CAD

A rising wedge pattern directed AUD/CAD movements for the 2007-2013 period, followed by a downward breakout when the RBA executed its rate cut in order to devalue the appreciating currency. A 14 percent dip came as a success of the policies implemented, and established a strong support level at 0.9212 which has carried the pair's movements since then. The support-line

Thu, 15 Sep 2016 14:14:05 GMT

AUD/USD squeezed between levels of significance

AUD/USD showed almost no volatility whatsoever over most of Wednesday, battling 0.7476/83, and restricted by 0.7484 from the downside.

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