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20 Sep 2013
Flash: AUD/CAD looks constructive below 38.2% retracement – TD Securities
FXstreet.com (London) - Shaun Osborne, FX Strategist at TD Securities see’s the AUD/CAD in a constructive consolidation phase.
Key Quotes:
“AUD/CAD continues to consolidate just below 38.2% retracement resistance. The broader trend here remains constructive—higher highs and higher lows—and short-term trend momentum is constructive”.
“We think the AUD can push on to the upper 0.98/low 0.99 area as the August/September rebound plays out”.
“Key resistance remains 0.9925/50 where the 50% retracement of the April/August slide and the major breakdown point from May (0.9925—major lows since 2010) converge”.
Key Quotes:
“AUD/CAD continues to consolidate just below 38.2% retracement resistance. The broader trend here remains constructive—higher highs and higher lows—and short-term trend momentum is constructive”.
“We think the AUD can push on to the upper 0.98/low 0.99 area as the August/September rebound plays out”.
“Key resistance remains 0.9925/50 where the 50% retracement of the April/August slide and the major breakdown point from May (0.9925—major lows since 2010) converge”.