- USDCAD trades in symmetrical triangle - watch 1.1185 and 1.0910.
- EURAUD respecting bullish engulfing reversal, needs to hold 1.5275 on pullback.
To keep up with developments central banks and their policy changes, be sure to sign up for my distribution list.
Chinese trade data and inflation data over the weekend severely disappointed, leading to weakness in the commodity currency bloc. In USDCAD, a consolidation has formed with a bullish tilt, although we'll respect both sides on a potential break. In EURAUD, the potential for a pullback is brewing but the rebound from last week's lows remains constructive above 1.5275.
--- Written by Christopher Vecchio, Currency Analyst
To contact Christopher Vecchio, e-mail firstname.lastname@example.org
Follow him on Twitter at @CVecchioFX
- Finance Trading
- Basic Materials Industry