Day five: selling AUD/CAD

My suggest sell limit of 1.0185 was triggered overnight, with the pair hitting a high of 1.0213.

AUD/CAD has subsequently fallen back to 1.0160 at the time of writing, showing strong supply coming into the market on moves above 1.0200.

On both the hourly and daily chart the pair looks like we could actually see some modest upside in the short-term, with stochastics at extreme lows, however a trend is starting to develop to the downside and I am keen to see if it can develop to the parity level.

With US payrolls in play tonight, playing the crosses can be beneficial. In theory a good jobs report would benefit the CAD more however, due to the fact that Canada has larger two-way trade with the US.


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