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AUD/CAD chart - Trading View
AUD/CAD was trading 0.05% higher on the day at 0.9573 at around 12:00 GMT.
The pair is extending gains for the 3rd straight week, extends gains above 200W MA.
Moderna’s vaccine announcement has seen a surge in oil prices, which support commodity currencies like the Canadian Dollar.
The pair is consolidating gains above daily cloud with Doji formation on the daily candle.
Technical analysis shows volatility is rising and momentum is strongly biased higher.
Scope for test of trendline resistance at 0.9640. Weakness only below daily cloud.
