CADJPY Pulls Back on Weak Canadian Retail Data: Dips to 113 Prime Buying Opportunity Targeting 116 
FxWirePro- Major European Indices 
FxWirePro- Major Pair levels and bias summary 
FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook 
FxWirePro: GBP/AUD moves lower on weak UK data 
FxWirePro: EUR/NZD uptrend loses steam, remains on bullish path 
FxWirePro: USD/JPY firms as Japanese Yen weakens after BoJ rate hike 
FxWirePro: USD/ZAR edges higher but bearish outlook persists 
FxWirePro- Major Crypto levels and bias summary 
FxWirePro- Woodies Pivot(Major) 
FxWirePro: USD/CAD downtrend slows, but bearish sentiment remains 
FxWirePro:EUR/AUD eases but bullish outlook persists 
EURJPY Surges Post-BOJ Hike: Bullish Momentum Builds – Buy Dips Targeting 185 
USDCHF Triple Bottom at 0.7920 Under Threat: Bearish Signals Dominate – Sell Rallies Targeting 0.7865 
Aussie-Yen Holds Firm Post-BOJ Rate Boost: Intraday Bullish Momentum Intact 
AUDUSD forms hanging man and hammer patterns at 0.7428 and 0.7238 levels respectively and the stiff resistance at 0.7369 (21DMA) and 0.7454 levels and strong support at 0.7315 areas are observed.
Hanging man at stiff resistance plummets prices below DMAs, while hammer counters with the stern bounce back, prevailing rallies are backed by momentum indicators and rising volumes (refer daily chart).
Whereas the major downtrend has been extending double top formation with breach below neckline and head towards 1 and a half year lows again (refer monthly plotting), bearish engulfing candle followed by shooting star patterns plummet prices below 7EMA again on this timeframe. In this journey, the pair shrugs off hammer pattern candle as bears extend price slumps.
While both RSI and stochastic curves have constantly been showing downward convergence to signal bearish momentum on monthly terms and bullish strength in the minor trend on daily terms. While we see bearish EMA crossover with rising volumes with dipping prices, this indicates downtrend to prolong further.
Trade tips: On trading perspective, at spot reference: 0.7353 levels, contemplating stiff resistance at 21DMA levels with prevailing bullish sentiments, it is advisable to buy boundary options of 1w expiries with upper strikes at 0.7372 and lower strikes at 0.7333 levels, the strategy is likely to fetch leveraged yields as long as underlying spot FX remains between these strikes on the expiration.
Alternatively, on hedging grounds, we advocate shorting futures contracts of mid-month tenors as the underlying spot FX likely to target southwards below 0.72 levels in the medium run.
Writers in a futures contract are expected to maintain margins in order to open and maintain a short futures position.
Currency Strength Index: FxWirePro's hourly AUD spot index is inching towards 40 levels which is bullish, while hourly USD spot index was at -79 (bearish) while articulating (at 07:10 GMT). For more details on the index, please refer below weblink:
