7 Nov 2013
AUD/CAD succumbs to 0.9866 bottoms; stays there
FXstreet.com (Chicago) - AUD/CAD continues trading very low after strong fall on worse than expected job market results released in Australia. The Aussie had strengthened throughout last week aiming to continue consolidating above the now lost 0.99 front.
AUD/CAD Technical Levels
Price action reveals a steep decline after the release of worse than expected Australian job market results and aftershocks. The pair broke the upward trendline that had started last week succumbing to 0.9866 lows. Offered at 0.9869, the pair oscillates between the supports aligned at 0.9836 (October 17th lows), 0.9768 (October 3rd highs) ahead of 0.9722 (October 2nd highs) and the resistances aligned at 0.9875 (November 4th lows), 0.99 (October 15th highs) followed by 0.9938 (October 22nd lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.
AUD/CAD Technical Levels
Price action reveals a steep decline after the release of worse than expected Australian job market results and aftershocks. The pair broke the upward trendline that had started last week succumbing to 0.9866 lows. Offered at 0.9869, the pair oscillates between the supports aligned at 0.9836 (October 17th lows), 0.9768 (October 3rd highs) ahead of 0.9722 (October 2nd highs) and the resistances aligned at 0.9875 (November 4th lows), 0.99 (October 15th highs) followed by 0.9938 (October 22nd lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.