22 Jan 2015
AUD/CAD moves away from 4-month highs
FXStreet (Mumbai) - AUD/CAD trims previous gains and remains in green during the mid-European session largely on the Aussie strength.
Currently, the AUD/CAD pair traded higher by 0.14% at 0.9992, retracing from fresh four month highs reached at 1.0069 in the previous session. The pair remains elevated as long as the Aussie holds gains versus the US dollar. AUD/USD trades 0.17% higher at 0.8100 levels, while USD/CAD trades flat, at time of writing.
The AUD/CAD cross rallied to fresh four month highs yesterday after the Bank of Canada (BOC) cut the benchmark interest rate unexpectedly to 0.75% from 1% - its first move in four years.
AUD/CAD Technical Levels
To the upside, the next resistance is located at 1.0022 (Today’s High) levels and above which it could extend gains 1.0069 (Jan 21 High) levels. To the downside immediate support might be located at 0.9956 levels, below that at 0.9900 levels.
Currently, the AUD/CAD pair traded higher by 0.14% at 0.9992, retracing from fresh four month highs reached at 1.0069 in the previous session. The pair remains elevated as long as the Aussie holds gains versus the US dollar. AUD/USD trades 0.17% higher at 0.8100 levels, while USD/CAD trades flat, at time of writing.
The AUD/CAD cross rallied to fresh four month highs yesterday after the Bank of Canada (BOC) cut the benchmark interest rate unexpectedly to 0.75% from 1% - its first move in four years.
AUD/CAD Technical Levels
To the upside, the next resistance is located at 1.0022 (Today’s High) levels and above which it could extend gains 1.0069 (Jan 21 High) levels. To the downside immediate support might be located at 0.9956 levels, below that at 0.9900 levels.