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8 Jul 2013
AUD/CAD depressed below 0.96 round
FXstreet.com (Barcelona) - The AUD/CAD foreign exchange cross rate is currently trading at 0.9581 off fresh session lows at 0.9562, little changed from previous weekly close Friday.
AUD/CAD pointing for a drop to 0.91
According to Toronto based FX Research Team at TD Securities, the AUD/CAD cross “looks very poor on the longer-term charts. Having cracked below medium-term support (1.07 double top neckline) at 0.9917 (now major resistance), the medium-term technical pointers call for a drop to 0.91. We remain bearish on the AUD.”
AUD/CAD key technical levels
Immediate support to the downside for AUD/CAD lies at mentioned recent session/Friday's lows 0.9564, followed by Thursday's lows at 0.9539, and Wednesday'¡s lows at 0.9507. To the upside, closest resistance shows at June 28 lows 0.9590, followed by July 02 lows at 0.9622, and Thursday's highs at 0.9652.
AUD/CAD pointing for a drop to 0.91
According to Toronto based FX Research Team at TD Securities, the AUD/CAD cross “looks very poor on the longer-term charts. Having cracked below medium-term support (1.07 double top neckline) at 0.9917 (now major resistance), the medium-term technical pointers call for a drop to 0.91. We remain bearish on the AUD.”
AUD/CAD key technical levels
Immediate support to the downside for AUD/CAD lies at mentioned recent session/Friday's lows 0.9564, followed by Thursday's lows at 0.9539, and Wednesday'¡s lows at 0.9507. To the upside, closest resistance shows at June 28 lows 0.9590, followed by July 02 lows at 0.9622, and Thursday's highs at 0.9652.