CAD Crosses At A Glance
Faraday Research | Oct 24, 2018 04:42AM ET
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.
USD/CAD 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
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