30 Oct 2013
AUD/CAD rally stalled for a reverse?
FXstreet.com (London) - AUD/CAD has stalled through 1.0000 has made a u turn losing a big figure.
Research teams at TD Securities said the rally in AUD/CAD has stalled at major resistance (200-day at 0.9990 and 200-week at 1.0020 MA resistance around par) and while losses so far this week look relatively contained, the damage to the August-October rally may be severe.
AUD/CAD corrective?
“We think the market has entered corrective mode and a lower close on the week (confirming a key week reversal) will solidify our expectations for a deeper correction of the 0.92/1.00 rally (towards 0.96/0.97 potentially). Resistance is 0.9990/00?”.
Research teams at TD Securities said the rally in AUD/CAD has stalled at major resistance (200-day at 0.9990 and 200-week at 1.0020 MA resistance around par) and while losses so far this week look relatively contained, the damage to the August-October rally may be severe.
AUD/CAD corrective?
“We think the market has entered corrective mode and a lower close on the week (confirming a key week reversal) will solidify our expectations for a deeper correction of the 0.92/1.00 rally (towards 0.96/0.97 potentially). Resistance is 0.9990/00?”.