The Aussie fell to 0.7600 early yesterday, pulled back to 0.7645 then fell again to 0.7606 to suggest that the corrective drop from 0.7668 is broadening.Initially today expect ranging 0.7600/25 today before the Aussie drops to 0.7575.Key support remains at 0.7560 and while it holds the Aussie can resume its rally towards 0.7790.However, as the Aussie is now failing to get back above the upward trendline, a break of 0.7560 will swing the odds in favour of a new decline.The first objective will be 0.7515 but later a test of 0.7400 will be seen.
Kiwi’s attempt to resume the rally failed at 0.6390 yesterday so it should drop back to 0.6310 before rising again.
Dollar/Canada is making a lengthier consolidation and should range 1.1050/1.1100 today before pushing up towards 1.1170.
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.
