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Thread: AUD/CAD

  1. #1
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    AUD/CAD

    The pair of AUD/CAD. the pair is traded on Friday at the side channel. And closed at 0.9766 resistance. If the resistance survives, it is possible to fall in price support level 0.9670. If the resistance will not stand, it is possible to increase the price to the resistance level 0.9860.
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    The pair of AUD/CAD. the pair had broken the support level of 0.9670 and is now trying to consolidate below it. If it succeeds, it may fall to the support level 0.9590. If you do not succeed, it is possible to increase prices to the resistance level 0.9765. A further increase is limited.

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    The pair is still trading within a side channel. Exit from which assigned to it will start a new movement to new levels. In the meantime, the level of support is 96.50 and the resistance level 0.9710. Exit from 0.9780 resistance opens

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    The pair of AUD/CAD. THE pair is trading below the resistance level of 0.9840. If it is broken, then open the way to the next level of 0.9870. In case if it hold out, then maybe the pair will trade sideways channel with support 0.9790.

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    The pair of AUD/CAD in 4H chart. the pair is trading below the resistance level of 0.9800. Perhaps the pair falling to the support level 0.9770 and then if it is broken. In case if this resistance hold out, then maybe a pair of raising him to the resistance level 0.9840.
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    The pair of AUD/CAD in 4H Chart. the pair found support at 0.9740. If she survives, then growth is possible to resistance level 0.9770 and further in the case of overcoming it. In the case if the support is broken, then maybe drop to the support level 0.9695.
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    Date : 28th April 2015 (Second Analysis)


    AUDCAD REACTING HIGHER FROM SUPPORT.






    AUDCAD, Weekly
    The pair has over the past two to three weeks been testing a support area between 0.9402 and 0.9482. This test was successful and the last week’s hammer candle now points to higher prices. Moves below the 1.5 stdv Bollinger Band were rejected by the market and we there has been no close below this band since December 2014. This suggests buying interest in this pair at levels below current price action. There is some resistance ahead though, as the 23.6% Fibonacci retracement level (at 0.9578) coincides with the high of last week’s candle while February low at 0.9590 is not far above it.





    AUDCAD, Daily


    Since April 20th the pair has been making higher daily lows and AUDCAD is now approaching resistance level created by the last week’s high and descending trendline. Stochastics is also getting close to levels it turned lower (together with price) the last time. I expect this will slow the pair down and could even cause it to correct lower. Nearest major support level is at 0.9467 while the next resistance level is at 0.9576. The 0.9636 resistance level coincides with the upper daily Bollinger Bands and has the 50 day MA hovering above. This suggests the level could very well work as a target for swing trades.





    AUDCAD, 240 min


    Price has moved beyond a resistance level at 0.9544 but has since hit the descending trendline. Stochastics and RSI are overbought and price is trading between the upper 1.5 and 2.0 stdv Bollinger Bands. The important support and resistance levels are pretty much the same as in the daily picture. There is some support at 0.9544 but it is fairly close to a higher time frame resistance levels and therefore should be judged as a minor support.


    Conclusion


    AUDCAD is still the strongest currency today against the major peers but has many resisting technical factors right above the current price. In short term picture this market is overbought as evidenced by the oscillators in 240 min chart and price trading at upper Bollinger Bands. This suggests that those wanting to trade this market on the long side should be careful right now and look to enter trades after pullbacks at support levels. Should there be a good sized pullback to the proximity of current levels of 50 period MA in 4h chart (0.9493) we should look for buy signals as per my teaching at webinars. Obviously being the strongest of the lot AUD can keep on rising against CAD without giving us a low risk entry but buying at a resistance is a high risk strategy. If there is a possibility to buy in proximity of a decent support (eg at 0.9500) the 0.9636 could be a reasonable Target 1 for swing trades. My Target 2 is at the next daily resistance level at 0.9700.


    Trade these levels only should the price action confirm my analysis. If you don’t know how to read price action, please join me to our free webinars and learn how to take your trading to the next level.


    Janne Muta
    Chief Market Analyst



    Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

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    Date : 17th July 2015 (Second Analysis).


    DOWNTRENDING AUDCAD HAS RALLIED TO RESISTANCE AREA.






    AUDCAD, Weekly


    AUDCAD has been moving lower in a wide trend channel after failing to penetrate at parity in the beginning of the year. Downtrend is clearly taking place as we have lower highs and lower lows but at the same time we need to acknowledge that this movement is taking place close to a longer term range low. AUDCAD has been ranging from 0.9205 in 2013 to 1.0349 in 2014 and the move we’ve seen since April this year has been taking place at lower end of this range. Therefore the longer term downside potential is limited and this pair could break out from the downtrend before breaking below the long term range bottom. This view is supported by the fact that the latest reaction low did not touch the channel low.


    This week the pair has rallied strongly from lower Bollinger Bands and a support area near 0.9331. AUDCAD is now approaching top of downward sloping price channel which suggests that the short term upside is getting limited. This area also coincides with a weekly resistance level at 0.9664 and a 38.2% Fibonacci level at 0.9648. This resistance also lines up with a level that used to support price on closing basis in February this year. The nearest weekly support level is at the latest low at 0.9376 while the next significant weekly support level is at 0.9331.





    AUDCAD, Daily


    Price has been rallying higher for four consecutive days and is currently trading at July 1st. pivotal candle low. Several technical factors coincide around the current price level: channel top, upper Bollinger Bands and a pivot high from July 1st. These factors together suggest that price could turn lower from here. Additionally, Stochastics Oscillator is trading above the overbought threshold adding to the indication that this down trending market is quite overbought and therefore vulnerable at the current levels.


    Price action today shows some signs of weakness as the pair is trading near opening price after a rally higher was rejected. However, it is still too early make conclusions based on today’s candle as trading action over the rest of the day is likely to change the form of this price bar significantly.


    The next significant daily support level coincides with 50% Fibonacci retracement level at 0.9515 while the nearest significant daily resistance level is at 0.9664.





    AUDCAD, 240 min


    The pair built a small base between July 6th and 14th and has since rallied almost the distance equivalent to the base width. The pair is at the time of writing AUDCAD is still finding support from a minor support level at 0.9584 and tries to rally higher. However, Stochastics is overbought and shows signs of slowing momentum as it is very close to moving below its signal line.


    Conclusion


    AUDCAD has been ranging from 0.9205 in 2013 to 1.0349 in 2014 and the move we’ve seen since April this year has been taking place at lower end of this range. Therefore the longer term downside potential is limited and this pair could break out from the downtrend rather than breaking below the long term range low. This view is supported by the fact that the latest reaction low did not touch the channel low.


    However, as long as we have a down trending market at a resistance, it makes sense to look for shorting opportunities. In short term, the pair is trading at resistance while still inside a downward trend channel. This suggests a move lower from current levels is more likely than a breakout from the channel. Look for momentum reversal signals between 0.9594 and 0.9664. If short trade signals take place and are successful then my targets are T1: 0.9515 and T2: 0.9475.


    Janne Muta
    Chief Market Analyst
    HotForex



    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

  9. #9
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    AUDCAD Technical Levels - 10.03.2017
    Technically, AUDCAD next immediate support below at 1.0110, 0.9643 and 0.9984 levels.
    Upside resistance above at 1.0158, 1.0185 and 1.0215 levels.
    Trend overall slightly bullish at the moment.

 

 

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