Flash: AUD/CAD, mid/low 0.99 might be retested

FXstreet.com (Barcelona) - After pushing through trend channel resistance at 0.9745, sustained gains in the AUD/CAD as the week comes to an end, will put the pair in a position to retrace a little more of the sharp slide seen over the past two months, says Shaun Osborne, Chief FX Strategist at TDS.

Despite the price action seen this week, barring any major spike, the TDS Strategist thinks "the broader trend here is lower following the break under key medium-term support (major double top neckline trigger) at 0.9917." In the near-term, while the low/mid 0.99 may be retested, the risk remains to the downside, Osborne said.