7 Aug 2013
AUD/CAD extends bounce off 3-yr low
FXstreet.com (Chicago) - AUD/CAD bounced off 0.9170 levels following as ascension started last July 31st.
Ahead of construction, home loans and lending data in Australia, the pair bounced recurrently off 0.9318 levels. Although small gains have been made throughout this week, the pair still trades around 3-year lows levels.
Technically speaking, the pair traded between supports at 0.9290 (August 5th lows), 0.9260 (August 1st highs) ahead of 0.9210 (August 2nd lows) and resistances at 0.9337 (August 5th highs), 0.9368 (July 13th lows) and 0.9418 (July 24th lows). On one-hour timeframe analysis, the FXstreet trend index reported the pair as slightly bullish as CCI pointed up and the price traded above short and long term averages except for SMA200.
Ahead of construction, home loans and lending data in Australia, the pair bounced recurrently off 0.9318 levels. Although small gains have been made throughout this week, the pair still trades around 3-year lows levels.
Technically speaking, the pair traded between supports at 0.9290 (August 5th lows), 0.9260 (August 1st highs) ahead of 0.9210 (August 2nd lows) and resistances at 0.9337 (August 5th highs), 0.9368 (July 13th lows) and 0.9418 (July 24th lows). On one-hour timeframe analysis, the FXstreet trend index reported the pair as slightly bullish as CCI pointed up and the price traded above short and long term averages except for SMA200.