Loonie Dollar – USD/CAD is making its way back into its 1.2620–1.2580 support area after price performed a fakeout at the 1.2920 resistance level. Conservative traders may wait for price to pullback into its 1.2620–1.2580 support area before hunting for buy setups while aggressive traders may consider shorting this market for a quick short term trade.
Pound Kiwi – GBP/NZD continue to consolidates above its 1.8920 support level over the last few weeks. If price is able to breakout below its 1.8920 support level, we are then likely going to see price decline lower into its 1.8630 in the near term. Traders may consider shorting this market at the breakout of the 1.8920 support level to jump on the potential bearish move.
NZD/CAD – NZD/CAD rejected its 0.9330 support level last week which could potentially lead price higher in the coming days. Since the overall trend is still bullish, traders may consider buying into this market to jump on the bullish trend. There’s no immediate resistance level above which offer traders massive profit margin to trade the long side of the market.