AUDCAD: Weak CAD, need a pullback for an entry
Canada's inflation is well below 2%, and with GDP underperforming at 1.7% annualized, the time to cut rates from 5% could be this Wednesday.
If this doesn't happen, we could see a snapback in the market near the 0.9050 area, which would be a good potential entry.
Australia's inflation rate is 3.4%, so no rate cut coming soon.
NO TRADE
Trend: Bullish
Momentum: Bullish
Japanese Candlestick Pattern: Bullish Engulfing on 4/22
Chart Pattern: Bullish Channel
Support and Resistance: 0.8600, 0.9000, and 0.9350 are all in play near-term.
If this doesn't happen, we could see a snapback in the market near the 0.9050 area, which would be a good potential entry.
Australia's inflation rate is 3.4%, so no rate cut coming soon.
NO TRADE
Trend: Bullish
Momentum: Bullish
Japanese Candlestick Pattern: Bullish Engulfing on 4/22
Chart Pattern: Bullish Channel
Support and Resistance: 0.8600, 0.9000, and 0.9350 are all in play near-term.
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