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22 Oct 2013
AUD/CAD sharp around 5-month peaks printing 0.9957 highs
FXstreet.com (Chicago) - AUD/CAD continues putting pressure on bears who stumble to Aussie’s strengthening printing 5-month highs at 0.9957 and attempting consolidation above the zone.
Stronger Aussie
Technically speaking, the pair displays strong bullish outlook with primary and secondary trends pointing up on monthly and daily charts. Around 5-month peaks, the pair maintains the upward trendline originated last July 30th intact despite stalling throughout Monday’s session. Decreasing EIA crude oil stocks change in the US and ahead of retail sales data in Canada, market participants continue favoring the Aussie.
AUD/CAD Technical Levels
Offered at 0.9950, the pair oscillates between the supports aligned at 0.9926 (October 16th lows), 0.9899 (October 15th highs) followed by 0.9856 (October 18th lows) and the resistances set at 0.9963 (October 18th highs), 1.00 (May 21st lows) followed by 1.0059 (June 1st highs).
Stronger Aussie
Technically speaking, the pair displays strong bullish outlook with primary and secondary trends pointing up on monthly and daily charts. Around 5-month peaks, the pair maintains the upward trendline originated last July 30th intact despite stalling throughout Monday’s session. Decreasing EIA crude oil stocks change in the US and ahead of retail sales data in Canada, market participants continue favoring the Aussie.
AUD/CAD Technical Levels
Offered at 0.9950, the pair oscillates between the supports aligned at 0.9926 (October 16th lows), 0.9899 (October 15th highs) followed by 0.9856 (October 18th lows) and the resistances set at 0.9963 (October 18th highs), 1.00 (May 21st lows) followed by 1.0059 (June 1st highs).