Fundamental Analysis of AUD/CAD for January 12, 2018 888011000 110888 AUD/CAD has actually been quite spontaneous with bearish gains today despite worse financial reports released recently in Canada. AUD has been the dominant currency in this pair for the most recent 2 months. AUD has actually had the ability to keep momentum, but market sentiment seems like altering a bit. Recently, Canada’s NHPI report was published with an unchanged value of 0.1% which was expected to increase to 0.2% and Structure Authorization report was likewise published with a significant decline to -7.7% from the previous value of 4.4% which was expected to be at -0.7%. On the other hand, Australia’s Retail Sales report revealed a considerable increase to 1.2% from the previous value of 0.5% which was expected to decrease to 0.4%. When it comes to the current situation, AUD is still quite strong basically, technically, and sentimentally. So, CAD has actually not held bearish momentum until now as anticipated. In the coming days, AUD is anticipated to have an edge over CAD, causing greater rates in the pair.Now let uslook at the technical view. The cost is currently revealing some bearish pressure off the assistance area between 0.9840-60 and expected to retrace to the dynamic level of 20 EMA prior to revealing some spontaneous bullish momentum to proceed higher towards 0.9910 resistance location in the coming days. As the rate stays above 0.9800 assistance location and dynamic level of 20 EMA, the bullish bias is expected to continue even more. The product has been supplied by InstaForex

By | January 12, 2018

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