The AUD/CAD trade has been constantly rising, and by way of the dollar, you can earn a positive carry. The trade looks like it is getting too hot though. DailyFX has a buy at .9420 on the AUD/CAD, and I am looking to do more heding by tightening my stops on the USD/CAD and buying the USD/EUR.
The daily charts on all parts of the AUD/CAD trade look like they're reaching a peak but the month charts show that the pairs have a lot of room to run. I am looking forward to a AUD/USD breakout similar to what is currently happening to the AUD/CAD.
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