USD/CAD is trading right now around the 1.0750 level on the daily chart just between the 100 and 200 Day Moving Averages respectively. Look to these levels for immediate support and resistance on a daily basis and to give direction to the pair in the coming weeks. If you look at my earlier post you [...]
Tag Archives: FX
USD/JPY Ahead of Non-Farm Payrolls Due out Friday 8:30 A.M. EDT
USD/JPY was offered today, after it came to light that many hedge funds and Asian accounts sold off their European government bond exposure.  EUR/JPY sold off this morning with most saying that this added momentum to the big sell-off earlier today. Looks like stops were hit under .9000 which was just under a significant support [...]
Trading the Breaks Ahead of Reserve Bank of Australia’s Rate Decision 10:30 PM EDT —- AUD/USD
Looking at an hourly chart on AUD/USD we see that the Aussie has been getting consistently weaker since Jan 18th earlier this year. Later tonight we have the Reserve Bank of Australia’s rate decision and statement at 10:30PM EST. The pair has been treading below the 100 Hour MA as considerable resistance over the last [...]
