US Dollar Soars Against Canadian Dollar Amid Pound and Aussie Downturn

The US dollar has turned bullish against the Canadian dollar as the British pound and Australian dollar lose momentum. The USD/CAD pair has rallied from the 1.3750 support area, with the 50- and 200-period EMAs converging just below price.

Currency analyst Chris at FXEmpire is buying the US dollar against the Canadian dollar over the last couple of days and remains bullish for the short term. He believes that any pullback in the USD/CAD pair could offer value, especially near the 1.3850 level.

The GBP/USD has rolled over from the 1.3650 resistance zone, slipping below the 50-period EMA with the 1.3550 level and the 200-period EMA providing support below. Chris suggests that if the British pound continues to drop through the 1.36 level cleanly on an hourly chart, he might be tempted to short.

The AUD/USD is pressing toward the 0.7200 level, holding above both the 50- and 200-period EMAs with 0.7150 acting as nearby support. Chris believes that the Australian dollar looks like it's trying to roll over and may be interested in shorting for a little 20 or 30 pip move.