Back
18 Sep 2013
AUD/CAD still consolidating above 0.96
FXstreet.com (Barcelona) - The AUD/CAD foreign exchange cross rate is last quoted at bids 0.9628 off recent session lows at 0.9617, still a +0.72% higher for the week so far.
AUD/CAD still consolidating
“Little change in the AUD/CAD technical picture at this point,” said the TD Securities Toronto based FX Research Team, adding: “The cross is still consolidating the rally seen through early Asian trade Monday in essence—and the recent push through resistance in the low 0.95 area more generally. It’s not clear to us that the AUD can rally that much more here in the very near-term but last week’s rebound from the 0.9535/45 area also suggests the move up has some momentum behind it. The bias here remains modestly AUD constructive while 0.9535/45 holds. Look for more narrow range trading near-term.”
AUD/CAD key technical levels
Immediate support to the downside for AUD/CAD lies at recent mentioned session lows 0.9618, followed by yesterday's lows at 0.9594, and Friday's highs at 0.9580. To the upside, closest resistance shows at recent session highs at 0.9640, followed by Sept 10 highs at 0.9647, and yesterday's highs at 0.9653.
AUD/CAD still consolidating
“Little change in the AUD/CAD technical picture at this point,” said the TD Securities Toronto based FX Research Team, adding: “The cross is still consolidating the rally seen through early Asian trade Monday in essence—and the recent push through resistance in the low 0.95 area more generally. It’s not clear to us that the AUD can rally that much more here in the very near-term but last week’s rebound from the 0.9535/45 area also suggests the move up has some momentum behind it. The bias here remains modestly AUD constructive while 0.9535/45 holds. Look for more narrow range trading near-term.”
AUD/CAD key technical levels
Immediate support to the downside for AUD/CAD lies at recent mentioned session lows 0.9618, followed by yesterday's lows at 0.9594, and Friday's highs at 0.9580. To the upside, closest resistance shows at recent session highs at 0.9640, followed by Sept 10 highs at 0.9647, and yesterday's highs at 0.9653.