Consistent to view long-term targets for the current 3 to 6 month period, horrendous currency pairs AUD/CAD and NZD/CAD are next.

Both AUD/CAD and NZD/CAD suffer from severe range compression. AUD/CAD is the better pair to trade but not by much. Both NZD/CAD and AUD/CAD are deeply oversold but blocked to move higher by solid averages. While NZD/CAD and USD/CAD correlate to USD/CAD at +83% and +73%, the correlation to USD/CAD is preventing USD/CAD to move higher.

Massive oversold USD/CAD must break the correlation to AUD/CAD and NZD/CAD to free float and allow USD/CAD to trade correctly and meet oversold targets.

AS AUD/CAD and NZD/CAD are the top pairs to overall NZD and AUD prices, blocked averages and range compression to NZD/CAD and AUD/CAD is enough to contain NZD/USD and AUD/USD to move significantly higher.

AUD/CAD from current 0.9451 to higher must break 0.9492, 0.9568, 0.9582, 0.9587, 0.9609 and 0.9621. Oversold AUD/CAD must trade to at least 0.9571 or 120 pips higher. Below, 0.9439 and 0.9356 hold absolute bottoms.

Weekly trades, long 0.9446 to target 0.9557 and 0.9576.


NZD/CAD from current 0.8759 is trapped between 0.8691 to 0.8805 and 0.8875. Above 0.8875 then next comes 0.8913 and 0.8978 at the 5-year average. Most vital to NZD/CAD is the 10 year average at 0.8789 then 0.8691. NZD/CAD's price is located in a horrible position.

Weekly Trade: Long 0.8741 to target 0.8826 then 0.8847.


Trading currencies and other financial instruments carries a degree of loss and possible loss of entire investments. Please managed your own risks, stop loss, and margins requirements.

Feed news

Latest Forex Analysis

Latest Forex Analysis

Editors’ Picks

EUR/USD holds above 1.21 as tensions mount ahead of the Fed

EUR/USD is trading above 1.21, in limited, typical, pre-Federal Reserve trading. Markets await the bank's dot plot and Chair Powell's comments on potential tapering of the Fed's bond-buying scheme. 


GBP/USD hovers around 1.41 after strong UK CPI

GBP/USD is trading around 1.41, rising after the UK reported an annual inflation rate of 2.1% in May, beating estimates and raising the chances of a BOE rate hike. The focus remains on the Federal Reserve's decision later in the day.


XAU/USD remains confined in a range near $1,860 level, FOMC awaited

Gold lacked any firm directional bias and remained confined in a narrow trading band through the first half of the European session on Wednesday.

Gold News

Shiba Inu ready to reverse to $0.0000050

SHIB price faces stiff resistance ahead. Shiba Inu has had a difficult time recovering, suggesting that it may soon face rejection. In the following video, FXStreet's analysts evaluate where SHIB price could be heading next as Shiba Inu gets weaker.

Read more

Federal Reserve Preview: First up, then down? Playbook for trading the Fed

To taper or not to taper? That is the question for markets ahead of the Federal Reserve's all-important June meeting. Fed Chair Powell will likely shoot down any talk of tapering the bank's bond buys. Highly volatile trading could see the greenback first drop.

Read more