The market didn`t react to the rate cut from the RBA this week with selling of the AUD. Still the pair is at important levels and are ready for a correction down. Also I believe there is upside potential for oil within the time horizon of this trade (1-2 weeks). Further strengthening CAD.
Technical analysis and fundamentals could both be signalling a bearish trend ahead. I will be awaiting signal for entry short with the pair, no point in trying to sell the tops or buy the bottoms.
I believe that the high of this week at 1.00624 was the last high for the pair. This week we should see price move downwards, as well as within one or two weeks see a lower high indicating a bearish trend taking place.
Technical analysis and fundamentals could both be signalling a bearish trend ahead. I will be awaiting signal for entry short with the pair, no point in trying to sell the tops or buy the bottoms.
I believe that the high of this week at 1.00624 was the last high for the pair. This week we should see price move downwards, as well as within one or two weeks see a lower high indicating a bearish trend taking place.
