Today’s Hypothesis
Risk Barometer AUDCAD retraces of lows after entering a key rejection area. Underlying fundamental themes keep AUDCAD negative. Rate now trading at a key resistance zone at c.95.20. Long-term bias persists to the downside.
Bulls need to work extremely hard to change the technical outlook for the pair. Key topside levels may offer bears some compounding opportunities. 50 EMA at 76.00 coupled with 50% fibo at 76.30 of the April-June weakening have been robust.
Important zones
Resistance: 0 95627
Support: 0 93617
Statistics for today
Detailed statistics in the Statistical Application (Premium Client’s Area)
Macroeconomic releases
No Releases
Risk Barometer AUDCAD retraces of lows after entering a key rejection area. Underlying fundamental themes keep AUDCAD negative. Rate now trading at a key resistance zone at c.95.20. Long-term bias persists to the downside.
Bulls need to work extremely hard to change the technical outlook for the pair. Key topside levels may offer bears some compounding opportunities. 50 EMA at 76.00 coupled with 50% fibo at 76.30 of the April-June weakening have been robust.
Important zones
Resistance: 0 95627
Support: 0 93617
Statistics for today
Detailed statistics in the Statistical Application (Premium Client’s Area)
Macroeconomic releases
No Releases