FX.co ★ Trading idea for the Australian dollar

Hello everyone! Here's a trading idea for AUD/CAD and AUD/NZD.

On April 14, we suggested lowering the AUD/NZD rate as seen in the second chart below.

Although the idea has been worked out, we believe that the potential to reduce the pair has not yet been exhausted, therefore, we suggest opening another set of sell positions above 1.06.

For AUD/CAD (left screen), the quotes have passed about 8000p over the past 4 weeks.

I suggest taking a closer look at the grid sale limits above 0.9500 (after the breakdown of March's high).

Grid method involves trading in reduced volumes. It can be calculated using trader's calculator.

Good luck!