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The strongest and weakest currencies as NY traders enter

Discussion in 'Market News' started by ForexLive, Oct 28, 2015.

  1. ForexLive

    ForexLive Forum Member

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    CAD is the strongest. AUD is the weakest. The strongest major currency is the CAD while the weakest is the AUD as the NY trading session begins. The CAD has been weaker of late. The USDCAD has been stepping higher since bottoming on October 15th. Looking at the chart below, the pair has a pattern of moving higher, correct 50%. It also has been tracking a topside trend line. That trend line was touched at the end of the trading day yesterday, and at the beginning of the new day today. Traders leaned against it and forced the price down in London/European trading.

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