29 June 2010

AUD/CAD : Sign of Turning

  • In a downtrend but past 3 weeks has seen a retracement which has taken us from low of 0.8577 to last week's high at 0.9111. Now at 0.8980.
  • Been patiently awaiting for this to turn back down. Looks like its happening now but still preliminary.
  • Will watch Friday's close to confirm and consider increasing short position.

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