After hitting a multiyear low just above 0.5500 on March 19, AUD/USD has formed a higher low in the 0.5720 area.
Oil is sinking fast
Information is not investment advice
WTI oil went down below the important daily Moving Averages and slid below the 38.2% Fibonacci retracement of the 2018-2019 advance at 57.30. There are lower levels where the price may go: 54.40 (50% Fibo) and 52.95 (200-week MA). the outlook will remain bearish as long as the price stays below 57.30.
The commodity is hurt by the uncertainty about the US-China trade tensions and the future of global oil demand for the rest of the year. In addition, American oil inventories remain near a 22-month high.
Notice that to trade WTI, you need to choose WTI-19N in your MetaTrader.
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.
WTI is at 17-year lows. Is it the end?
FLAGS EURUSD M30 ARROW Resistance 1…