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20 Jun 2013
AUD/CAD prints fresh almost 3-year lows barely above 0.95
FXstreet.com (Barcelona) - With Aussie being the weakest currency among majors by far in last 2 trading days, AUD/CAD is last at 0.9537, off fresh almost 3-year lows at 0.9511 printed after FOMC, slightly below of previous multi-year lows from past Tuesday June 11.
In words of the Toronto based FX Research Team at TD Securities, “we think the broader trend here remains lower,” the analysts said, adding: “Trend momentum signals are bearishly aligned across a range of time frames and that limits the AUD’s ability to recover at the moment (likely to the 0.9800/40 area at most)," they concluded.
Immediate support to the downside for AUD/CAD lies at recent mentioned fresh almost 3-year lows 0.9511, followed by March 2010 highs at 0.9470, while to the upside, closest resistance shows at current levels as June 11 lows 0.9550, followed by June 10 lows at 0.9585.
In words of the Toronto based FX Research Team at TD Securities, “we think the broader trend here remains lower,” the analysts said, adding: “Trend momentum signals are bearishly aligned across a range of time frames and that limits the AUD’s ability to recover at the moment (likely to the 0.9800/40 area at most)," they concluded.
Immediate support to the downside for AUD/CAD lies at recent mentioned fresh almost 3-year lows 0.9511, followed by March 2010 highs at 0.9470, while to the upside, closest resistance shows at current levels as June 11 lows 0.9550, followed by June 10 lows at 0.9585.