Friday, October 16, 2026

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FxWirePro: AUD/CAD holds above 78.6% Fib, focus on RBA minutes

AUD/CAD has bounced off strong support by 78.6% Fib level at 0.9368. Daily charts show hanging man formation on Friday's trade, which supports upside. The pair has hit session highs at 0.9439, and has since pared some ga…

By FxWire Pro
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FxWirePro: AUD/CAD holds above 78.6% Fib, focus on RBA minutes
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  • AUD/CAD has bounced off strong support by 78.6% Fib level at 0.9368. Daily charts show hanging man formation on Friday's trade, which supports upside.
     
  • The pair has hit session highs at 0.9439, and has since pared some gains to currently trade around 0.9420 levels.
     
  • Longer term bias is bearish, breaks below 0.9368 (78.6% Fib retrace of 0.9150 to 1.0169) could drag the pair to 0.93 and then 0.9250 levels.
     
  • On the flipside, next hurdle is located at 0.9441 (5-DMA) ahead of 0.9470 (trendline), continuation of upside only on breaks above 0.9470. 
     
  • Markets now focus on the RBA May policy meeting minutes (due Tue 0130 GMT), April unemployment rate (due Thurs 0130 GMT).
     
  • Canadian existing home sales for April are scheduled for release later today and are likely to show a further increase in the number of units sold.
     

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Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560

By FxWirePro Team