Unsere besten Spreads und Konditionen
Mehr erfahren
Handelsnachrichten
Back
13 Aug 2013
AUD/CAD pressing against 0.94 support on Aussie weakness
FXstreet.com (Barcelona) - The AUD/CAD foreign exchange cross rate is last quoted at 0.9409 bids, off recent session and weekly lows at 0.9401, down -0.6% for the week so far, ahead of NAB business confidence in Australia at 01:30 GMT.
AUD/CAD just correcting, not a reversal
According to the TD Securities Toronto based FX Research Team, last move higher below 0.95 handle “is merely taking back some of the heavier net loss seen last weeks overall. This is a consolidation and not a reversal. Sustained gains through 0.9440/50 temper near-term downside risks and may allow for a deeper correction in the short-run but we think the broader down move is incomplete (we retain a target of 0.91, resulting from the 1.07/0.99 double top breakdown in May).”
AUD/CAD key technical levels
Immediate support to the downside for AUD/CAD lies at recent session lows 0.9401, followed by July 12 lows at 0.9347, and Wednesday's lows at 0.9294. To the upside, closest resistance shows at London session lows 0.9420, followed by Monday's Asian session lows at 0.9436, and Thursday's highs at 0.9466.
AUD/CAD just correcting, not a reversal
According to the TD Securities Toronto based FX Research Team, last move higher below 0.95 handle “is merely taking back some of the heavier net loss seen last weeks overall. This is a consolidation and not a reversal. Sustained gains through 0.9440/50 temper near-term downside risks and may allow for a deeper correction in the short-run but we think the broader down move is incomplete (we retain a target of 0.91, resulting from the 1.07/0.99 double top breakdown in May).”
AUD/CAD key technical levels
Immediate support to the downside for AUD/CAD lies at recent session lows 0.9401, followed by July 12 lows at 0.9347, and Wednesday's lows at 0.9294. To the upside, closest resistance shows at London session lows 0.9420, followed by Monday's Asian session lows at 0.9436, and Thursday's highs at 0.9466.