3 Feb 2015
AUD/CAD ratcheting steadily lower ahed of RBA - TDS
FXStreet (Guatemala) - Analysts at TD Securities explained that the AUD/CAD is ratcheting steadily lower from the par-plus levels seen earlier in the month.
Key Quotes:
"The rejection of 1.00 looks fairly emphatic on the longer term charts but scope for weakness is being complicated by the fact that trend momentum signals are still bullishly aligned on the longer-term charts. We still prefer the short-side of this trade but it is not without risks."
"Gains back through 0.9890/00 near-term may reinvigorate the latent bull tendency that the trend oscillators suggest is still there. We are cautiously bearish."
Key Quotes:
"The rejection of 1.00 looks fairly emphatic on the longer term charts but scope for weakness is being complicated by the fact that trend momentum signals are still bullishly aligned on the longer-term charts. We still prefer the short-side of this trade but it is not without risks."
"Gains back through 0.9890/00 near-term may reinvigorate the latent bull tendency that the trend oscillators suggest is still there. We are cautiously bearish."