USD/CAD is in a triangle
Oil prices will likely remain elevated as there are no signs that the Middle East tensions will ease anytime soon.
AUD/CAD touched resistance
Information is not investment advice
Technical analysis: on H4 of AUD/CAD, the pair touched the resistance at 0.9189 and rebounded. Up to now, the pair has been moving to the support range of 0.9163-0.9153. If it closes below this range, we can anticipate a further fall to 0.9135. However, we see that Parabolic SAR still signals an uptrend and the pair will recover anytime. Look at resistances at 0.9189 and 0.9214.
Fundamental factors: on July 17, the CAD will be affected by the CPI release. In case of the encouraging data, the pair will turn around targeting 0.9189 again. If the data disappoints, be ready for a further fall.
Darya Bobrova
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