The Aussie has moved into a bullish position after it held at 0.7462 yesterday, at the previous minor high and the level of the mvg avg, and then returned to 0.7530.Daily momentum is also in a favourable position to support a rally.The Aussie should drift a little higher initially today but then spend most of the day ranging.Expect a test of 0.7565 and a drop back to 0.7500.Later, the rally should resume and extend towards the last highs at 0.7650 and 0.7792.Only a drop back through 0.7460 will signal that any rally will be delayed as the Aussie drops back to 0.7350.
Kiwi held firm at 0.6095 early yesterday and quickly pushed higher to 0.6170 to signal that a new phase higher has started.Expect a test of 0.6225 over the next couple of days with any drop now limited to 0.6140.
Dollar/Canada is set to complete a complex corrective pattern from its 1.0925 low.Expect a brief rise to around 1.1360 early today and then prices should commence falling.
Disclaimer: All information on this web site is subject to change. The use of this web site constitutes acceptance
of our user agreement. All publisher financial articles at
FXtree.com are those of the individual authors and do not represent trading recommendations
of FXtree.com or its staff.
