AUD/CAD 4H potential bear flag break

25 Ağu 2012

After a significant move down in AUD/CAD we had some consolidation upward. The break of the this small upward channel could see a move down the length of the previous move down. If fundamentals continue to signal a Chinese slowdown Aussie could experience continued weakness and with QE3 rumors hampering USD, CAD could be a good substitute for shorting AUD. Target 1.0150 with a stop loss back in the small upward channel at 1.0400.