There were aggressive purchases of USD/CAD on Friday. The Canadian dollar weakened against the US dollar by more than 150 points. This happened due to the publication of weak reports on the inflation and retail sales in Canada. The technical picture is ambiguous now. The asset is consolidating. I don’t exclude a technical correction in the nearest future. I’ll sell USD/CAD, if the price fixes below the 1.2615 local support. The pair may move to 1.2585.
The bearish sentiment prevails on the EUR/USD currency pair now. The euro has the potential for the further decline. Head and shoulders, the strongest reversal figure, was formed on the daily chart. I plan to open positions in the current trend direction. I’ll sell the pair after the price fixes below the 1.1735 local support level. The asset may move to the 1.1700 round level.
GBP/USD held the 1.3215-1.3225 local supply zone during the Asian trading session. It caused emergence of a bearish sentiment. The pair has the potential for the further reducing. I plan to open deals in the current trend direction. I’ll sell GBP/USD, if the price fixes below 1.3185. The closest target for taking profit is the 1.3160 level. I’ll use a trailing stop for this position.
Aggressive sales of AUD/USD were observed during the Asian trading session. The currency found its support at the 0.7780 level. I plan to wait for a correction to 0.7795-0.7805. If the price reaches this zone, I’ll short the pair. It may move to 0.7780-0.7750.
My expectation on AUD/USD were confirmed. Aggressive sales were observed during the Asian trading session. It happened due to the publication of a weak report on the inflation in Australia. I’ll sell the pair, if it fixes below the 0.7710 local support. The pair may move to 0.7675-0.7650.
I also don’t exclude a technical correction after a sharp fall of AUD/USD. I’ll buy the pair, if it fixes above the 0.7730 local resistance. It may move to 0.7750-0.7775.
