CAD Crosses At A Glance

Matt Simpson, CFTe, MSTA CityIndex

Markets lie in wait ahead of today's BOC meeting, so we take a look at USD/CAD, GBP/CAD and AUD/CAD to mark key levels for the aftermath.

USDCAD Daily

Consolidating between the September high and the upper bearish channel.
The longer-term uptrend and weak oil prices favour a bullish breakout.
The BOC meeting in a few hours could be a ‘make or break' situation for CAD at this pivotal level.

GBP/CAD Daily

An evening star reversal formation marks a failed attempt to break above September's high.
Back within range, it's consolidating above support around 1.6925/62.
A break of support opens up run for the November low.

AUD/CAD Daily

Trades within an established bear trend.
Both the September and October highs produced a failure spike higher and bearish inside day before turning lower.
A break of 0.9244 exposes the 2018 low at 0.9105

Author

Matt Simpson, CFTe, MSTA

CityIndex

Matt Simpson is a certified technical analyst who combines charts and fundamentals to generate trading themes.

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