After hitting a multiyear low just above 0.5500 on March 19, AUD/USD has formed a higher low in the 0.5720 area.
CAD/JPY: there are lower levels
Information is not investment advice
Japanese yen has broadly strengthened as the demand for it as a safe haven increased. CAD/JPY fell and it looks like it has the potential for further declines: the pair isn’t oversold yet and didn’t reach any major support. Fibonacci tool locates a minor support level at 80.85 (78.6% Fibo of the May-July advance). If the pair slips below this point, it will be vulnerable for the decline to 79.95 (June low). This is in line with the general downtrend. At the same time, if the pair manages to get above 81.20, the next levels to watch will be at 81.60 and 82.00.
GBP/USD retraced more than 78.6% Fibonacci of the 2019 advance. Last week was the worst for the pair since the Brexit referendum.
CAD/JPY recovered last week to the 78.00 area (38.2% Fibonacci of the February-March decline), but then turned down again getting back below the 50-period MA on the H4.
As today is the last day of the first quarter, let’s look at the performance of the major currency pairs and analyze what may come next for them.
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