USD/CAD: sell in the downtrend
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/JPY needs to decide
Information is not investment advice
AUD/JPY has reached the support line connecting August and October lows in the 73.30 area. Now the pair will have to decide, which trend it’s going to continue: the long-term downtrend or a shorter-term uptrend. In the first case, the initial targets will lie at 72.80 and 72.15 (50% and 61.8% of the August-November advance). If the support holds and the price returns above the 50- and 100-day MAs, a break above 73.95 will allow it to rise to 74.50 (September highs).
Elizabeth Belugina
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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.
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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.
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