Flash: AUD/CAD, technicals call for a drop to 0.91 - TDS

FXstreet.com (Barcelona) - AUD/CAD topside failure through trend channel resistance last week, according to Shaun Osborne, Chief FX Strategist, suggests the outlook "looks very poor on the longer-term charts."

"Having cracked below medium-term support (1.07 double top neckline) at 0.9917 (now major resistance), the medium-term technical pointers call for a drop to 0.91. We remain bearish on the AUD" Osborne added.