12.07.2017 Bank of Canada decided to hike overnight rate from 0.50% to 0.75%. That was first interest rate hike in seven years and looks like it is more to come. The biggest beneficiary of decision is Canadian dollar (CAD) which already gained in relation to US dollar (USD) +5.50% since the beginning of the year.
AUD/USD is closer again to well protected supply zone. Everything because of US dollar weakness after yesterday’s (12.07.2017) Jannet Yellen dovish statement. Here are some of the quotes:
Fibonacci retracement is a popular tool that technical traders use to help identify entry zones, stop losses or take profit targets. The retracement idea is used in many indicators such as harmonic patterns, Elliott Wave theory and much more. After a meaningful movement in price, the new support and resistance levels are often at these