AUD/CAD Update

A slight recovery is likely after the recent sell off. Such a bounce will not have an impact on the medium and longer term outlook. Both currencies are heavily commodity driven and both show a relatively similar performance versus other crosses. Between themselves the outlook has been highly choppy but overall quite neutral since 2013. Key levels come in at 1.03 and 0.9250.

  • Near term trend: positive
  • Long term trend: neutral
  • Outlook: recovery in neutral range
  • Strategy: range trading only
  • Support: 0.9650 / 0.9250-
  • Resistance: 1.0100 / 1.0310+
  • Outlook cancelled/neutralized: n/a

Weekly chart AUD/CAD