14 Nov 2013
AUD/CAD at 23.6% Fibo; longing 0.98 zone
FXstreet.com (Chicago) - AUD/CAD maintains performance stopping around the 0.9780 zone after small retracement from session highs.
The most recent data published in Australia are the new motor vehicle sales results at -3.1% vs. prior -3.6%. Consumer inflation expectations results were 1.9% vs. past 2.0%.
AUD/CAD Technical Levels
Price action reveals a pair that retraces from 0.9808 session highs to trade around the 23.6% Fibonacci level (0.9725/ 0.98) printing higher highs and lows. Consolidating a reversal from yesterday, the pair holds on close to the 0.98 front. Offered at 0.9787, it oscillates between the supports aligned at 0.9772 (October 14th lows), 0.9725 (October 1st highs) followed by 0.9692 (October 5th lows) and the resistances set at 0.98 (November 12th highs), 0.9859 (October 10th highs) ahead of 0.9910 (November 7th highs).
The most recent data published in Australia are the new motor vehicle sales results at -3.1% vs. prior -3.6%. Consumer inflation expectations results were 1.9% vs. past 2.0%.
AUD/CAD Technical Levels
Price action reveals a pair that retraces from 0.9808 session highs to trade around the 23.6% Fibonacci level (0.9725/ 0.98) printing higher highs and lows. Consolidating a reversal from yesterday, the pair holds on close to the 0.98 front. Offered at 0.9787, it oscillates between the supports aligned at 0.9772 (October 14th lows), 0.9725 (October 1st highs) followed by 0.9692 (October 5th lows) and the resistances set at 0.98 (November 12th highs), 0.9859 (October 10th highs) ahead of 0.9910 (November 7th highs).