Pair Expectation, target value – maximum or minimum for the month


AUDUSD down, target: 0.7700-0.7600


EURUSD down, target: 1.1700-1.1800


USDCAD up, target: 1.1800-1.1900


GBPUSD up, target: 1.5700-1.5800


USDJPY down; Lower limit 115.00


The strongest currencies for the month of January seem to be USD and GBP, along with JPY. Expectations for the forthcoming rate cuts by RBNZ and RBA in the end of January and early February might exert downward pressure on AUD and NZD. Any rally in Canadian dollar should be met with skepticism as long as it is not supported by sustainable rally in oil prices. It is reasonable to believe that the latter should stop going down and stabilize in rather narrow range.
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