The pair continues to hold above its longer term rising trendline though cautiously as momentum is building up slowly. While this occurs, we envisage a trade towards its Nov 25’09 high at 0.9321.

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AUDUSD: Cautiously Trading Above LT Rising Trendline

The pair closed higher for a third day in a row following its recovery off the 1.4827 level, its Nov 27′09 low. That has put it above the 1.5062/82 levels and now leaves risk towards its YTD high at 1.5143 where a convincing break if seen will propel it further…

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EURUSD – Climbs Back Above The 1.5062 level

The pair closed lower the past week failing to follow through on its previous week strength and testing a low of 1.0446. While the 1.0867 level, its Nov 01’09 high remains unbroken, USDCAD looks to head back lower towards its YTD low at 1.0204 with an invalidation of there pushing…

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USDCAD: Risk Still Points Lower Short Term