Back

AUD/CAD faces stiff resistance at 200-DMA

FXStreet (Mumbai) - The Australian dollar dropped versus the Canadian counterpart during the European session largely on Aussie weakness.

Currently, the AUD/CAD pair slid by 0.51% at 0.9885, having posted day’s high at 0.9960 and day’s low at 0.9858 levels. The commodity cross erased previous gains and got smashed mainly on the Aussie’s freefall to fresh 4-1/2 year low. Both, the Australian dollar and the Canadian dollar are losing against the greenback. But the Aussie plummeted more than the Loonie.

AUD/USD trades at 0.7962, recording a -0.78% loss on the day, while USD/CAD gains 0.31% to trade at 1.2421 levels, at time of writing.

AUD/CAD Technical Levels

To the upside, the next resistance is located at 0.9960 (Today’s High) levels and above which it could extend gains 1.0048 (Jan 22 High) levels. To the downside immediate support might be located at 0.9858 levels, below that at 0.9828 levels.

Crude gives up its gains on the new Saudi King’s speech – TradeTheNews

The TradeTheNews Team mentions that WTI erased all of its gains after the new Saudi King spoke in favour of maintaining the policies of the predecessor.
Devamını oku Previous

UK retail sales outperform expectations - ING

James Knightley, Senior Economist at ING, reviews the UK retail sales release, and expects that consumer spending will be a major drive of UK growth, anticipating a 0.8% 4Q GDP print next week.
Devamını oku Next