19 Sep 2013
AUD/CAD breaks above 0.97 for first time in 2 months
FXstreet.com (Barcelona) - The AUD/CAD foreign exchange cross rate is last quoted at bids 0.9710 off recent fresh 2-month highs printed at 0.9740 following Aussie surge after FOMC “no-taper” surprise.
AUD/CAD broader bias remains constructive
“The broader bias here remains modestly AUD constructive while 0.9535/45 holds and short-term momentum studies are constructive,” said the TD Securities Toronto based FX Research Team, adding: “Look for more narrow range trading near-term with a mild upside bias.” AUD/CAD cross is up +1.41% for the week so far.
AUD/CAD key technical levels
Immediate support to the downside for AUD/CAD lies at recent session lows/Monday's highs 0.9698, followed by Monday's London session highs at 0.9670, and Sept 10 highs at 0.9648. To the upside, closest resistance shows at recent session/fresh 2-month highs 0.9740, followed by June 27 highs at 0.9757, and June 26 highs at 0.9784.
AUD/CAD broader bias remains constructive
“The broader bias here remains modestly AUD constructive while 0.9535/45 holds and short-term momentum studies are constructive,” said the TD Securities Toronto based FX Research Team, adding: “Look for more narrow range trading near-term with a mild upside bias.” AUD/CAD cross is up +1.41% for the week so far.
AUD/CAD key technical levels
Immediate support to the downside for AUD/CAD lies at recent session lows/Monday's highs 0.9698, followed by Monday's London session highs at 0.9670, and Sept 10 highs at 0.9648. To the upside, closest resistance shows at recent session/fresh 2-month highs 0.9740, followed by June 27 highs at 0.9757, and June 26 highs at 0.9784.