10 Oct 2013
AUD/CAD whipsawed from 0.98 lows to 0.9848, 5-month session highs
FXstreet.com (Chicago) - AUD/CAD shook itself up and down shortly after the release of better than expected Australian job market data. Now trading at 0.9825, the pair approaches immediate support after inconclusive descend from session highs.
Better than expected job market data in Australia favored the Aussie. In Canada, housing market data is due later today along job market results due tomorrow to end the week in terms of official data releases for the country.
AUD/CAD Technical Levels
Price action reveals a pair that extends the upward trendline that started last August 1st. Soaring to 0.9848 5-month session highs. Primary and secondary trends support the short-term flow. Offered at 0.9825, the pair oscillates between supports aligned at 0.9820 (October 8th highs), 0.9796 (June 22nd highs) ahead of 0.9740 (September 18th highs) and the resistances set at 0.9856 (June 10th highs), 0.9890 (June 1st lows), 0.9932 (May 27th lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.
Better than expected job market data in Australia favored the Aussie. In Canada, housing market data is due later today along job market results due tomorrow to end the week in terms of official data releases for the country.
AUD/CAD Technical Levels
Price action reveals a pair that extends the upward trendline that started last August 1st. Soaring to 0.9848 5-month session highs. Primary and secondary trends support the short-term flow. Offered at 0.9825, the pair oscillates between supports aligned at 0.9820 (October 8th highs), 0.9796 (June 22nd highs) ahead of 0.9740 (September 18th highs) and the resistances set at 0.9856 (June 10th highs), 0.9890 (June 1st lows), 0.9932 (May 27th lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.