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17 Sep 2013
AUD/CAD testing 0.96 support after RBA minutes
FXstreet.com (Barcelona) - The AUD/CAD foreign exchange cross rate is last quoted at bids 0.9608 near session lows following RBA meeting minutes with a general tone overall.
AUD/CAD delaying any drop back
“AUD/CAD gapped higher in Asian trade, leaving the short-term charts looking a bit messy, so it may take a little time to clear the outlook here,” said the TD Securities Toronto based FX Research Team, adding: “We still rather think that AUD/CAD is consolidating the August/September rebound but we had thought that the risk of a drop back below 0.9545 was rising last week. The pop higher yesterday—while showing signs of stalling—may delay any drop back.”
AUD/CAD key technical levels
Immediate support to the downside for AUD/CAD lies at Sept 06/09 highs 0.9602, followed by Friday's highs at 0.9580, and Sept 06/09 lows at 0.9536/39. To the upside, closest resistance shows at Thursday's/Tuesday's/Sept 04 highs 0.9645, followed by NY session highs at 0.9669, and yesterday's fresh 2-month highs at 0.9696.
AUD/CAD delaying any drop back
“AUD/CAD gapped higher in Asian trade, leaving the short-term charts looking a bit messy, so it may take a little time to clear the outlook here,” said the TD Securities Toronto based FX Research Team, adding: “We still rather think that AUD/CAD is consolidating the August/September rebound but we had thought that the risk of a drop back below 0.9545 was rising last week. The pop higher yesterday—while showing signs of stalling—may delay any drop back.”
AUD/CAD key technical levels
Immediate support to the downside for AUD/CAD lies at Sept 06/09 highs 0.9602, followed by Friday's highs at 0.9580, and Sept 06/09 lows at 0.9536/39. To the upside, closest resistance shows at Thursday's/Tuesday's/Sept 04 highs 0.9645, followed by NY session highs at 0.9669, and yesterday's fresh 2-month highs at 0.9696.