CAD, AUD, & NZD

January 20 2022

D1 USDCAD

USDCAD found buying interest sub 1.2490, however since Tuesday’s failed rally, the upside has been limited to 1.2520/30.

The US Dollar really needs to break back above 1.2520 to test target 1.2560/70, otherwise another dip to 1.2450 seems increasingly likely.

D1 AUDUSD

The AUD is trying to break up this morning targeting 0.7270/80 resistance. However, any loss of momentum or a break of 0.7220/10 would signal a failure and see another drop to test 0.7170.

D1 NZDUSD

The failure for the NZDUSD to break back above 0.6820 has increased downside pressure.

After the upside failure we should expect an attempt to break support at 0.6740/30, if broken then expect more weakness to 0.6690/80. Only a break above 0.6820 lifts the gloom and points to more gains to 0.6860.

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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