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AUD/USD posted an outside day last Tuesday as it bounced from 2016 - 2017 trendline. One week later, the pair is trading about 75 pips higher, after sellers emerged ahead of 0.7650. Private Capital Expenditure report on Thursday will likely provide some fuel for either direction.
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Loonie all over the charts
Loonie produced a couple of volatile whipsaws last week. It sold off 100 pips on the FOMC but recouped those losses in the next hour. On Friday morning it fell more than 150 pips, broke FOMC low and traded down to almost 1.30. That fall was then completely reversed and some on Friday afternoon.
The pair posted a hammer-like outside day candle on the daily chart and a hammer on the weekly chart, but validity of these reversal patterns in a broadly ranging environment is questionable. The pair app…
The pair posted a hammer-like outside day candle on the daily chart and a hammer on the weekly chart, but validity of these reversal patterns in a broadly ranging environment is questionable. The pair app…
Swissie doesn't like the downside
Swissie posted outside day reversal on Friday. However, it was not confirmed today and the pair is poised to break previous week high and 100 DMA at 0.9535. Whether or not the rally is being helped by the SNB is not important anymore as currently both technicals and fundamentals strongly support it.