AUDJPY Bounces 150 Pips on Short Covering — Sell Rallies at 111.40 Targeting 108 as Higher EMAs Stay Bearish 
FxWirePro: EUR/ AUD dips below 1.6400 level, focus on near term support 
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AUDJPY Momentum Fades at 111: Sell Rallies to 108 as Bearish EMAs Dominate 
FxWirePro- Major Pair levels and bias summary 
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FxWirePro- Major Pair levels and bias summary 
FxWirePro- Woodies pivot (Major) 
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- USD/CAD shown a massive jump of 179 pips from the low of 1.28038. The pair jumped till 1.29845 almost near to 2018 high at 1.30013. Intraday trend is neutral/.The pair should break above 1.3000 for further upside. The main reason for decline in Canadian dollar is due to dovish statement by Bank of Canada Governor Stephen Poloz. It is currently trading around 1.29451.
- The NAFTA negotiations are the major factor that reduces chance of rate hike by Bank of Canada.
- Oil prices has shown a more than 2.5% yesterday from the high of $61.95 as government forecast showed that US shale output is expected to rise to a record 6.95 million.US crude declined till $60.29 and is currently trading around $61
- On the higher side, major resistance is around 1.3000 and any break above will take the pair till 1.3062/1.3130.
- The near term support is around 1.2920 and any break below will take the pair till 1.2860/1.2800.Short term bearish continuation only below 1.2800.
It is good to buy on dips around 1.2920-25 with SL around 1.2860 for the TP of 1.3060.
