USD/CAD remains within a downtrend. As a result, selling the pair as it turns down from resistance is the best strategy. Support lies at 1.3125.
AUD/CHF may recover
Information is not investment advice
AUD/CHF is trading within a long-term downtrend. However, the pair has managed to find support near the psychological level of 0.6500. Now there’s scope for a bullish correction. An advance above 0.6680 (38.2% Fibo retracement of the July-August decline). Upside targets will lie at 0.6730 (50% Fibo) and 0.6780 (61.8% Fibo). On the downside, support is at 0.6560 ahead of 0.6500.
EUR/AUD formed a candlestick with a long upper shadow on the D1. The pair is currently testing levels below the 50- and the 100-period moving averages.
USD/JPY has recently formed a higher low at the end of last week. Today the pair is testing levels above the 50-day MA.
U.S. stock markets are set to open with a modest bounce after their worst day in over a month on Monday.
Asian equity markets resumed the weak performance seen across global peers which culminated in Wall St’s worst day in over a month
Surging coronavirus cases and a stalemate in Washington over the next fiscal aid bill darkened the economic outlook in the run up to Nov. 3 presidential elections.