AUD/CAD Daily

[Cyclopip]

Here's another look at a long-term setup. This time it's on AUD/CAD (sorry for hijacking this forum, I'm working on having an "others" forum made).

AUD/CAD: Daily




Pretty simple technical setup. 3-bar turn at parity, which was a major support level in the past. The question of course is whether or not it can hold. Remember, one reason why this pair from its high is because the RBA cut rates recently. If the RBA starts hinting that its looking into further rate cuts and the BOC sits still, I'm not sure how much longer the 1.0000 level will hold.

What do you fellas think?

[SimonTemplar]

I took effectively the same trade from yesterday's low test (23rd May), so with apologies to being late to this thread - missed it! - I'm with you, although I am assuming that you have exited your trade. Did you happen to take the one I am talking about? Hoping that there might be 100 pips in it... famous last words...

ST

[SimonTemplar]

(And I often trade AUD/CAD, I find it moves very nicely and pretty predictably, so would be supportive of an 'others' thread)