FxWirePro: AUD/CAD fails to hold gains above 0.9990, retreats to hit session lows at 0.9889
0.9990 is strong double top (17th Dec and Jan 28th) resistance and AUD/JPY fails to hold gains above. The pair closed Wednesday's trade at 0.9911, and in the Asian session today hit session lows at 0.9889. The Bank of Ca…
0.9990 is strong double top (17th Dec and Jan 28th) resistance and AUD/JPY fails to hold gains above.
The pair closed Wednesday's trade at 0.9911, and in the Asian session today hit session lows at 0.9889.
The Bank of Canada, on Wednesday, kept its key policy interest rate on hold at 0.5%. BOC accommodative monetary policy and higher oil prices supporting CAD.
Weakness could extend if pair closes below 0.99 (trendline support), test of 0.9850 then likely.
Supports on the downside are aligned at 0.9879 (Mar 8th lows), 0.9860 (cloud base) and 0.9847 (Mar 4th lows).
