My picks: Stay Short AUD/CAD
Expertise: Fundamentals Combined With Technicals
Average Time Frame of Trades: 1 Day - 1 Week
I am looking to stay short AUD/CAD with a stop above 0.8940, with enough space allowed for any widening of the spread during low-liquidity hours. Potential targets include the 200 SMA at 0.8458 and the 50% fib of 0.7726-0.8939 at 0.8330.
That said, many of the commodity dollars still look bullish againtst low-yielders like the US dollar and Japanese yen, but ultimately, I'll be looking to sell those rallies.
