AUD/CAD Forex Pair…Trouble Ahead for China?

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At the time of writing this post intraday on Friday, the
AUD/CAD forex pair is down 0.0066 pips and is below parity, as
shown on the Weekly chart below. The 1.00 level is, essentially
the neckline of a Head & Shoulders pattern, and is an important level.
A weekly close below could, ultimately, send it down by a measured move
of 700 pips to 0.93.

Any further weakness may signal further
problems in China, so it's one I'll be monitoring into next week, along with
commodities, which are also down today.

Strawberry Blonde's DISCLAIMER: The
information contained within my posts may not be construed as financial or
trading advice. Please do your own due diligence before engaging in any trading
activity.