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23 Jan 2015
AUD/CAD faces stiff resistance at 200-DMA
FXStreet (Mumbai) - The Australian dollar dropped versus the Canadian counterpart during the European session largely on Aussie weakness.
Currently, the AUD/CAD pair slid by 0.51% at 0.9885, having posted day’s high at 0.9960 and day’s low at 0.9858 levels. The commodity cross erased previous gains and got smashed mainly on the Aussie’s freefall to fresh 4-1/2 year low. Both, the Australian dollar and the Canadian dollar are losing against the greenback. But the Aussie plummeted more than the Loonie.
AUD/USD trades at 0.7962, recording a -0.78% loss on the day, while USD/CAD gains 0.31% to trade at 1.2421 levels, at time of writing.
AUD/CAD Technical Levels
To the upside, the next resistance is located at 0.9960 (Today’s High) levels and above which it could extend gains 1.0048 (Jan 22 High) levels. To the downside immediate support might be located at 0.9858 levels, below that at 0.9828 levels.
Currently, the AUD/CAD pair slid by 0.51% at 0.9885, having posted day’s high at 0.9960 and day’s low at 0.9858 levels. The commodity cross erased previous gains and got smashed mainly on the Aussie’s freefall to fresh 4-1/2 year low. Both, the Australian dollar and the Canadian dollar are losing against the greenback. But the Aussie plummeted more than the Loonie.
AUD/USD trades at 0.7962, recording a -0.78% loss on the day, while USD/CAD gains 0.31% to trade at 1.2421 levels, at time of writing.
AUD/CAD Technical Levels
To the upside, the next resistance is located at 0.9960 (Today’s High) levels and above which it could extend gains 1.0048 (Jan 22 High) levels. To the downside immediate support might be located at 0.9858 levels, below that at 0.9828 levels.