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19 May 2015
AUD/CAD hovering near the downward trendline – Varengold
FXStreet (Barcelona) - The Varengold Bank Research Team, shares the technical outlook and key levels for AUD/CAD using daily charts.
Key Quotes
“The Australian dollar versus the Canadian dollar is traded in a range since last year. Now the price touched the downward trendline the 3rd time and is interesting for bulls and bears. The MACD Indicator and both Exponential Moving Average’s showing the same development in price action. Both turned to long. This direction will be confirmed if the price break’s through the trendline significant.”
“Support Levels around 0.9620, 0.9420”
“Resistance Levels around 0.9748, 0.9880”
Key Quotes
“The Australian dollar versus the Canadian dollar is traded in a range since last year. Now the price touched the downward trendline the 3rd time and is interesting for bulls and bears. The MACD Indicator and both Exponential Moving Average’s showing the same development in price action. Both turned to long. This direction will be confirmed if the price break’s through the trendline significant.”
“Support Levels around 0.9620, 0.9420”
“Resistance Levels around 0.9748, 0.9880”