AUD - Strong Bearish
1️⃣ Investors this week are expected to be cautious ahead of the FOMC meeting and avoid putting money in high-yielding countries.
2️⃣ Recent disappointment in AU business and consumer confidence.
3️⃣ RBA minutes from the June meeting show that the board agreed it would be premature to consider ending the bond-purchasing programme and policy would need to remain highly accommodative to reach full employment.
CAD - Weak Bullish
1️⃣ The Canadian central bank was the first among advanced economies to slow the pace weekly of government bond purchases, now traders expect the next taper to come at the next monetary policy meeting on July 14th.
2️⃣ Oil prices hit their highest since October of 2018, with WTI crude extending gains above $72 per barrel, supported by an improved demand outlook as an acceleration in COVID-19 vaccinations helped lift travel restrictions in Europe and the US.
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Technical
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We are selling the AUDCAD at the resistance + below SMA50 + at the pivot point on the H1 chart.
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Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
1️⃣ Investors this week are expected to be cautious ahead of the FOMC meeting and avoid putting money in high-yielding countries.
2️⃣ Recent disappointment in AU business and consumer confidence.
3️⃣ RBA minutes from the June meeting show that the board agreed it would be premature to consider ending the bond-purchasing programme and policy would need to remain highly accommodative to reach full employment.
CAD - Weak Bullish
1️⃣ The Canadian central bank was the first among advanced economies to slow the pace weekly of government bond purchases, now traders expect the next taper to come at the next monetary policy meeting on July 14th.
2️⃣ Oil prices hit their highest since October of 2018, with WTI crude extending gains above $72 per barrel, supported by an improved demand outlook as an acceleration in COVID-19 vaccinations helped lift travel restrictions in Europe and the US.
=====
Technical
=====
We are selling the AUDCAD at the resistance + below SMA50 + at the pivot point on the H1 chart.
=====
Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
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❌ TRADE HAS HIT STOP LOSS
-20 PIPS
-20 PIPS