CAD, AUD, & the NZD

January 18 2022

D1 USDCAD

USDCAD came back strongly from the 1.2450/60 lows, however the recovery stalled at 1.2570 resistance. The USD now finds support at 1.2490/80 and looks to be trying to build a base for another run up to 1.2570.

If 1.2570 can be clearly broken the next target for the USDCAD recovery is 1.2620. However, there is a risk of a retest at 1.2460, if the USD struggles to build a base.

D1 AUDUSD

0.7200 is providing some support for the AUD to recover towards 0.7240/50 Resistance.

The downside seems to be the more vulnerable side, and a clear break of 0.7200 opens a retest of 0.7150 support.

D1 NZDUSD

The NZD managed to break above 0.6860 for a few hours but failed to hold onto its gains. The result of that failure, is that we are now testing the resolve of the buyers at 0.6790/80 support. If we hold here you could see a recovery to 0.6850/60 resistance.

A break down of 0.6780 targets 0.6740. Above 0.6860 we target 0.6890/0.6900.

Trade Forex, Crypto, Precious and Industrial Metals and much more at http://www.8dcglobal.com

Published by Neil Callard

Forex Trader and Educator. 30 years trading experience, of which 20 years was market making in major currencies in large international financial institutions.

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