AUD/CAD struggling to stay afloat above 0.9400

FXstreet.com (Barcelona) – The AUD/CAD foreign exchange cross rate is last quoted near session highs at 0.9403 off recent session lows at 0.9376 on a series of 3 consecutive higher intraday lows since Wednesday’s fresh weekly lows, despite still capped below 0.9415 ask line.

AUD/CAD downside risk remain

“AUD/CAD’s sell-off below short-term support (minor double top neckline) at 0.9355 yesterday reversed partially by the close and the market is consolidating (inside range) so far today,” said the TD Securities Toronto based FX Research Team, adding: “To a large degree, we think the technical “damage” has been done here so we would …read more