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- Pair is currently trading at 0.9711 levels.
- It made intraday high at 0.9723 and low at 0.9609 levels.
- Intraday bias remains bullish till the time pair holds key support level at 0.9594 levels.
- Today Australia released GDP data with positive figures at 0.6% Q/Q vs 0.5% market expectations.
- Both AUD$ and CAD$ are struggling against US dollar but CAD$ seems more weak.
- On the other side, daily close below 0.96 will turn bias bearish and drag the parity back below 0.93 levels.
We prefer to take long position in AUD/CAD around 0.97, stop loss 0.96 and target 0.9850 levels.
