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AUD to CAD Exchange Rate

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When converting Australian dollars (AUD) to Canadian dollars (CAD), or CAD to AUD, by exchanging via Direct FX, you will save a significant amount of money. Our wholesale currency exchange rates for money transfers are significantly more competitive than bank foreign exchange rates. Being Australasian based, we specialise in knowing what drives AUD and CAD currency conversion rates.

AUD to CAD Overview: Both the Australian and Canadian dollars are regarded are commodity currencies. AUD CAD is a relatively stable currency pair. The CAD fortunes are more closely aligned with those of the US, as it is their largest trading partner and neighbour. The AUD fortunes are aligned with those of Australia and Asian emerging markets. A break down in correlation can happen in periods of dislocated global growth as we have seen following the 2008 global financial crisis. The AUD closer ties to the Asian economies has seen it consolidate at historically elevated levels again the CAD.
 
Historical Ranges: 1 year  5 years 10 years 
AUD/CAD .9145 - 1.0233 .9145 - 1.0783 .7155 - 1.0783

Current Official Cash Rates:
Reserve Bank of Australia (RBA): 1.50%         Bank of Canada (BoC): 0.50%

AUD CAD Weekly Updates:                                                                                Back to FX Updates
Tuesday 21st March 4:15pm(NZT)The Australian dollar has trended higher against the CAD over the last few days, currently at 1.0292 after a low of 1.0208 on Friday. Given that the Canadian budget is tomorrow we expect trading to consolidate at current levels, but a move back over 1.0300 towards 1.0340 looks possible over the next week.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0292 1.0200 1.0252 1.0159 - 1.0333
 
Friday 17th March 4:00pm(NZT)
The Australian dollar had an initial up move earlier in the week against the CAD trading around 1.0242 but slipped lower and is now at 1.0215. It must hold above the 1.0200 level to return to the previous uptrend, but a test of this level looks likely into early next week.
The current interbank midrate is:    AUDCAD 1.0216

The interbank range this week has been:    AUDCAD 1.0132 - 1.0268
Tuesday 14th March 3:45pm(NZT)
The Australian dollar is improving against the CAD, even after the better Canadian data. It is now at 1.0157 after a low last week of 1.0125 , both currencies will be affected by the Fed meeting results, but look for the AUD to regain the 1.0200 zone later in the week.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0165 1.0125 1.0252 1.0127 - 1.0214

Friday 10th March 4:00pm(NZT)
The Australian dollar is again lower, having opened the week at 1.0214 and is now at 1.0150. Improving economic data has helped the CAD. Next support is at 1.0101, but unlikely to see this ahead on the NFP tonight or  FOMC next week.
The current interbank midrate is:    AUDCAD 1.0150

The interbank range this week has been:    AUDCAD 1.0105 - 1.0214
Tuesday 7th March 3:45pm(NZT)
The Australian dollar dropped on this cross from a high last week of 1.0251 to 1.0101, but has recovered to trade currently around 1.0171 (0.9831), with CAD interest rate decision unchanged, the trend now looks to be more AUD positive and a move to 1.0240 (0.9765) over the next few days looks likely.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0171 1.0101 1.0252 1.0104 - 1.0254

Friday 3rd March 4:15pm(NZT)
The Australian dollar has drifted lower on this cross from a high of 1.0251(0.9755) earlier in the week to 1.0105 (0.9896) currently ...immediate support is at 1.0047 and we look for a move to this level early next week...with better Canadian data the CAD is better positioned on this cross….US events will continue to be dominant to both currencies in this pair.
The current interbank midrate is:    AUDCAD 1.0107

The interbank range this week has been:    AUDCAD 1.0033 - 1.0254
Tuesday 28th February 7:45pm(NZT)
The Australian dollar remains constant on this cross and is now trading at 1.0133 ((0.9868) ...its highest level for 4 days….outlook for the Aussie on this cross  continues to be positive immediate resistance is at 1.0156 (0.9846) with support at 1.0020 (0.9980) ..US events will be dominant to both currencies in this pair.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0130 1.0020 1.0098 1.0033 - 1.0158

Friday 24th February 2:45pm(NZT)
It’s been a relatively positive week for the Australian dollar versus its Canadian counterpart. Consistent gains through the first half of the week saw the pair trade to a high of 1.0158 on Wednesday night in the wake of soft Canadian retails sales numbers. But yesterday’s soft Australian Capex data put pay to any further gains this week and the pair is now consolidating just above 1.0100.
The current interbank midrate is:    AUDCAD 1.0099

The interbank range this week has been:    AUDCAD 1.0025 - 1.0158
Tuesday 21st February 6:45pm(NZT)
The Australian dollar still in an uptrend against the CAD climbing from a low of 1.0023 to 1.0081 over the last week, now at 1.0080...next resistance is at 1.0098, which then targets 1.0166 last seen in November...will need some more solid Aussie data to achieve this level.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0079 1.0020 1.0098 0.9984 - 1.0097

Friday 17th February 4:30pm(NZT)
Now around 1.0065 after a range of 0.9979-1.0097 throughout the week...has reverted back to an uptrend and given the more solid Aussie data we see the uptrend extended out to next week...immediate resistance is at 1.0098.
The current interbank midrate is:    AUDCAD 1.0060

The interbank range this week has been:    AUDCAD 0.9984 - 1.0097
Tuesday 14th February 4:45pm(NZT)
Currently at 1.0020 (0.9980) the  Australian dollar is marginally lower against the CAD which received a boost from the more positive outcome of the Trump/Trudeau meeting. However, given the better GDP forecasts the fundamentals continue to look more attractive for the Aussie and we favour a move back to the 1.0080 (0.9920) level over the next few days.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0022 0.9995 1.0050 0.9998 - 1.0067

Friday 10th February 6:30pm(NZT)
The Australian dollar ends the week around 1.0045 (0.9955)  on the CAD down from the 1.0080 high (0.9921) earlier in  the week….continues to trade in a narrow range but looks to be continuing to drift higher against the CAD, support at 0.9995 unlikely to be tested anytime soon and we favour a move back to 1.0080 early next week.
The current interbank midrate is:    AUDCAD 1.0044

The interbank range this week has been:    AUDCAD 0.9960 - 1.0067
Tuesday 7th February 4:45pm(NZT)
The Australian dollar continues to hold ground on this cross, currently sitting at 1.0014 (0.9986), a move back to the 1.0068 (0.9932) is possible over the next few days...support at 0.9880 (1.0121) unlikely to be tested over the next few days.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0009 0.9880 1.0050 0.9863 - 1.0035

Friday 3rd February 4:30pm(NZT)
The Australian dollar has stepped higher on this cross making a 1.0013 (0.9987) high , it is now back around 0.9958 (1.0042) and given any unforeseen issues in next Tuesday's RBA statement we look for a test of 1.0060 ( 0.9940) next week.
The current interbank midrate is:    AUDCAD 0.9960

The interbank range this week has been:    AUDCAD 0.9853 - 0.9983
Tuesday 31st January 4:45pm(NZT)
The Australian has retraced some of last week’s previous losses on this cross over the last 4  days, coming from a 0.9848 low to currently sit at 0.9910 as the CAD fell on weaker oil prices...the Governor of the Bank of Canada is expected to talk the CAD down in a speech later tonight ahead of the Canadian GDP data also due  tonight.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9912 0.9875 0.9992 0.9853 - 1.0071

Friday 27th January 3:30pm(NZT)
The Australian has slid on this cross over the last 4  days as the CAD has firmed against most its trading partners, with  weaker economic data and gold prices have eroding Australian dollar value, should close the week at current levels around 0.9865 (1.0136) ...next support level around 0.9800.(1.0204)
The current interbank midrate is:    AUDCAD 0.9870

The interbank range this week has been:    AUDCAD 0.9855 - 1.0101
Tuesday 24th January 6:15pm(NZT)
Now at 1.0042 after a range over the last 24 hrs of 1.0027-1.0102, the Australian Dollar has performed solidly against the CAD over the last week, coming from 0.9830 a week ago and we look for a move back over the 1.0100 level later today.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0023 0.9960 1.0178 0.9900 - 1.0174

Tuesday 17th January 2:15pm(NZT)
The Australian dollar has spent much of January recovering previously lost ground against the Canadian dollar. The local currency remains well support trading just blow the weeks high. There is plenty to drive the pair over the coming days with the Bank of Canada rate statement, Australian employment data, Canadian inflation and Canadian retails sales all set for release. For now the risks remain skewed to further Australian dollar strength. Any break above 0.9870 will encourage further AUD gains.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9843 0.9760 0.9870 0.9709 - 0.9865

Tuesday 10th January 4:00pm(NZT)
Moved in a narrow range overnight of 0.9734-0.9705, currently at 0.9725 on light volume and with the current stronger Australian dollar tone, expect most moves to be on the upside of this pair. Declines in oil prices will continue to weigh on the Canadian dollar in the near term.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9740 0.9640 0.9750 0.9647 - 0.9753

Friday 23rd December 3:45am(NZT)
The Australian dollar is trading largely unchanged in trade against the Canadian dollar since our commentary on Tuesday. Data from Canada has been mixed and close enough to expectations to cause minimal directional bias over the week, whilst in Australia the RBA minutes provided no impetus. Look to liquidity and oil price moves for direction over the holiday period. Canadian GDP numbers are set for release later today. Momentum is negative at present although the recent move is extended. Resistance is eyed in the .9900-.9940 area.
The current interbank midrate is:    AUDCAD 0.9723

The interbank range this week has been:    AUDCAD 0.9685 - 0.9827
Tuesday 20th December 1:30pm(NZT)
The Australian dollar has fallen in trade against the Canadian dollar since our commentary on Friday. The move comes as key $AUD sensitive commodities decline and as investors take a more cautious stance towards the risk currencies in light of the rise in geopolitical tensions. Focus this week starts with today’s RBA minutes whilst in Canada events to watch included inflation and retail data on Thursday and GDP on Friday. Expect sentiment and oil to also be important drivers over the holiday period. We favour the CAD over the AUD based on a continuation of the recent sentiment although sharp rallies can also be expected.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9720 0.9560 0.9910 0.9703 - 0.9884

Friday 16th December 11:45am(NZT)
The Australian dollar is relatively unchanged in trade once again against the Canadian dollar since Tuesday. Focus has been on the continued strength of the US dollar over the week, especially after yesterday’s Fed meeting. This has seen both currencies lose a similar amount of ground against the greenback over the week. Focus for next week includes Thursday’s Canadian data (and Canadian GDP on Friday) and the RBA minutes on Tuesday. We favour selling rallies towards this week’s highs (.9885) based on the more positive present outlook for oil.
The current interbank midrate is:    AUDCAD 0.9813

The interbank range this week has been:    AUDCAD 0.9762 - 0.9888
Tuesday 13th December 2:30pm(NZT)
The Australian dollar is trading largely unchanged in trade against the Canadian since our report on Friday. Losses to around .9765 were observed however in early trade yesterday. This came after the CAD rallied on the back of the positive developments announced over the weekend on world energy markets (OPEC/non-OPEC production cuts). A retracement from the highs in the price of oil has ensured that gains in the CAD have not matched those of the AUD in recent trade however. Look to energy markets and Australian employment data on Thursday for key influence this week.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9839 0.9760 0.9860 0.9763 - 0.9924

Friday 9th December 11:15am(NZT)
The Australian dollar has lost ground in trade against the Canadian dollar since our commentary on Tuesday. The move reflects the solid support for the CAD and mixed performance of the AUD against the greenback (poor Australian GDP data has been balanced by strong iron/ore and coal gains). Resistance is now seen at the .9940/50 level, whilst target support for this downshift is around .9760. We favour the CAD over the AUD at present while oil prices support. Australian employment data on Thursday should be noted for next week.
The current interbank midrate is:    AUDCAD 0.9836

The interbank range this week has been:    AUDCAD 0.9823 - 0.9939
Tuesday 6th December 2:30pm(NZT)
The Australian dollar is trading unchanged in trade against the Canadian dollar since our last report on Thursday. Trade has been relatively contained with a .9850 to .9940 type range which are now the closest levels to watch near the current market. In focus this week are the respective monetary announcements from both central banks (RBA today and the BoC tomorrow) and Australian GDP tomorrow. We lack a strong conviction although the recent strong downside momentum does appear to be waning.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9910 0.9850 1.0000 0.9854 - 1.0063

Thursday 1st December 2:00pm(NZT)
The Australian dollar has fallen in trade against the Canadian dollar since our commentary on Tuesday. The move reflects the support for the Canadian dollar in the wake of last night’s decision by OPEC to cut oil production, this during a session where the AUD and NZD fell notably. First support for this move is seen at .9860 and then around .9790. Look to Australian CAPEX data for initial influence. Oil markets and Canadian employment numbers (tomorrow) form the interest for the CAD. Momentum at present is heavy although resistance around 1.0100 is distant.
The current interbank midrate is:    AUDCAD 0.9920

The interbank range this week has been:    AUDCAD 0.9910 - 1.0094
Tuesday 29th November 3:30pm(NZT)
The Australian dollar has continued to firm in trade against the Canadian dollar since our report on Friday. The move reflects the continued strength and relative outperformance of the AUD in an environment of an overall weaker US dollar this week. Look to the outcome of the pivotal OPEC decision on oil production caps to dictate the next large shift in the cross this week (the meeting convenes tomorrow). Initial resistance is seen in the 1.0100/25 zone, whilst first support is seen at last week’s lows (.9860). Expect levels to offer little in the way of opposition to the OPEC induced volatility.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0043 0.9860 1.0100 0.9892 - 1.0094

Friday 25th November 2:30pm(NZT)
The Australian dollar has recovered in trade against the Canadian dollar since our report on Tuesday. The move reflects the improvement in the AUD/USD exchange rate on the back of commodity price support and reduced heavy transactional supply. Critical to direction for next week will be the outcome of the OPEC producer meeting which is set to conclude towards the end of the week, although various Canadian data also features. Support to watch is around the weekly lows at .9860 whilst levels around 1.0070 on the topside is the initial upside target (1.0125,1.0180 beyond).
The current interbank midrate is:    AUDCAD 0.9998

The interbank range this week has been:    AUDCAD 0.9863 - 1.0032
Tuesday 22nd November 2:30pm(NZT)
The Australian dollar has continued to move lower in trade against the Canadian dollar since Friday. The continued weakness reflects the support for the CAD on the back of rising oil prices and falls in the AUD which has been the notable commodity currency underperformer in recent days. Talk of M&A selling has also been a factor in the recent weakness. The recent move lower looks extended to us given that it has sliced 50% off the large upswing seen this year (May to November). Look to oil pricing and a shift in the supply/demand balance of the AUD for direction over the days ahead.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9890 0.9785 0.9950 0.9863 - 1.0257

Friday 18th November 2:30pm(NZT)
The Australian dollar has fallen heavily in trade against the Canadian dollar since Tuesday. The move comes on the back of the poor performance of the AUD in the environment of a stronger US dollar during the week as falls in key AUD sensitive commodities and the market’s view of yesterday’s Australian employment data weighed. Sentiment and external drivers look likely to again drive most of the trade in this cross next week. First support is seen at .9950/60. Resistance beyond 1.0075 should be seen around 1c higher.
The current interbank midrate is:    AUDCAD 1.0024

The interbank range this week has been:    AUDCAD 0.9986 - 1.0268
Tuesday 15th November 2:00pm(NZT)
The Australian dollar is trading largely unchanged in trade against the Canadian dollar since our report on Friday. The move reflects the similar performance of the CAD and AUD in the environment of a stronger greenback after the Trump win in the US election. Look for a stronger domestic focus this week as we receive the RBA minutes this afternoon and Australian employment numbers on Thursday. Canadian inflation is due on Friday. We lack a strong bias, although the current big picture trend remains one of AUD strength overall.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0245 1.0180 1.0400 1.0177 - 1.0396

Friday 11th November 2:30pm(NZT)
The Australian dollar has eased in trade against the Canadian dollar since our report on Tuesday. Volatility has been elevated in most crosses this week after the surprise US election which saw Trump win the presidency. Highs near 1.0400 were seen in the AUD/CAD cross in trade overnight on the back of the surge in the AUD/USD exchange rate which traded to around .7740 highs (large AUD/JPY buying). Support for the cross is eyed in the 1.0200/15 zone whilst on the topside levels above 1.0350 should attract fresh selling. Look for another busy week next week. Data includes Australian employment on Thursday and Canadian inflation on Friday.
The current interbank midrate is:    AUDCAD 1.0233

The interbank range this week has been:    AUDCAD 1.0218 - 1.0396
Tuesday 8th November 2:30pm(NZT)
The Australian dollar has continued to gain against the Canadian dollar in trade since our report on Thursday. The latest move reflects the buying of ‘risk’ currencies like the AUD in anticipation of a Clinton victory in the US election tomorrow. With little data out of any note from either country this week look for the result of the US election tomorrow to ultimately set direction for this cross on the week. Momentum remains positive although expect considerable volatility over coming hours.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0314 1.0115 1.0350 1.0200 - 1.0334

Thursday 3rd November 3:00pm(NZT)
The Australian dollar has lifted modestly in trade against the Canadian dollar since our commentary on Tuesday. The move comes as the Canadian dollar continues to feel the pressure from falling oil prices over the course of the week (oil suffered from a surprise US crude inventory build and OPEC/oil producer deal uncertainty). Energy markets and the Canadian data tomorrow form the focus to end the week, although also look to the RBA MPS tomorrow for any surprises. Momentum for the cross remains positive, first support is seen at 1.0200 while first resistance is eyed at the weekly highs (~.1.0290/1.0300) and then 1.0350 beyond.
The current interbank midrate is:    AUDCAD 1.0248

The interbank range this week has been:    AUDCAD 1.0130 - 1.0289
Tuesday 1st November 1:30pm(NZT)
The Australian dollar has resumed its rally against the Canadian dollar in recent trade on the back of further falls in the CAD as the price of oil fell sharply in trade overnight. Doubts over the ability of key oil producers to agree to a production deal at the end of the month led to the fresh falls. Immediate focus for the cross is today’s RBA decision, whilst on the data front we have Canadian GDP later today and various events on Friday. Energy markets will again be important which has us favouring further upside given the current uncertainty.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0209 1.0100 1.0285 1.0130 - 1.0283

Friday 28th October 3:00pm(NZT)
The Australian dollar has continued to rally against the Canadian dollar in trade since Tuesday’s commentary, although sits well adrift of the 1.0285 highs which were set after the strong AUD buying earlier in the week (after Wednesday’s better than expected headline inflation data). Momentum for this cross continues to be positive at the moment and initial support for this pull-back is eyed in the 1.0100/20 zone. Next resistance beyond the week’s highs is eyed at the April 2014 peak (~1.0350/60.). First focus for next week is Tuesday’s RBA decision.
The current interbank midrate is:    AUDCAD 1.0157

The interbank range this week has been:    AUDCAD 1.0089 - 1.0283
Tuesday 25th October 3:00pm(NZT)
The Australian dollar has lifted moderately in trade against the Canadian dollar since our commentary on Friday, although sits off the 2 year+ highs which traded yesterday. The move comes on the back of further CAD selling as news of a Belgium stumbling block to the EU-Canada free trade deal emerged overnight. In focus this week is tomorrow’s Australian inflation data, and any developments in the energy markets/the EU-Canada free trade agreement. We lack any bias, although momentum for the AUD remains positive on this cross.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0134 0.9950 1.0200 1.0002 - 1.0191

Friday 23rd October 2:30pm(NZT)
The Australian dollar has again moved higher against the Canadian dollar this week. The move comes on the back of the relative outperformance of the AUD (despite yesterday’s weak Australian employment numbers) given the dovish BoC monetary statement on Wednesday. Highs near the September highs, and late 2015 highs, which were again visited prior to yesterday’s weak Australian data form an important barrier to rallies for the time being (1.0160/75 region). Look to energy markets and the Australian inflation read (Wednesday) for direction next week.
The current interbank midrate is:    AUDCAD 1.0095

The interbank range this week has been:    AUDCAD 0.9978 - 1.0158
Tuesday 18th October 3:00pm(NZT)
The Australian dollar has edged higher in trade against the Canadian dollar since our report on Friday. With little in the way of fresh economic leads to go on since Friday the move has come down to the marginal outperformance of the AUD in the stronger USD environment. This week has the prospect of being more interesting with the BoC monetary policy statement (Wednesday) and RBA minutes this afternoon.  Data of interest starts with Thursday’s Australian employment numbers and is followed by inflation and retail sector data from Canada on Friday. We lack any view on the next swing move from here at present.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0020 0.9980 1.0070 0.9960 - 1.0065

Friday 14th October 2:00pm(NZT)
The Australian dollar has eased marginally in trade against the Canadian dollar since our commentary on Tuesday. There has been little in the way of economic news to drive the cross this week which has meant that the cross has moved lower in trade overnight on the back of CAD/moderate oil gains. We continue to see oil as being very important next week which has us favouring further CAD gains (in time) although look to the Australian employment report and the BoC monetary policy statement for further direction.
The current interbank midrate is:    AUDCAD .9990

The interbank range this week has been:    AUDCAD .9960 - 1.0090
Tuesday 11th October 2:00pm(NZT)
The Australian dollar is sitting largely unchanged against the Canadian dollar in trade since Friday. Gains to near 1.0090 were seen by the end of the week, although recent trade which has seen the CAD/Oil move higher on the back comments from Russia over its willingness to support the OPEC oil deal have limited the gains. With little on the data front due this week we will again look to headlines and developments in the oil markets this week for direction. We continue to prefer buying the CAD on rallies in this cross based on the improving outlook for the supply side of the oil market.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0011 .9980 1.0090 .9984 - 1.0103

Friday 7th October 2:30pm(NZT)
The Australian dollar has eased against the Canadian dollar in trade since Tuesday. The move reflects the outperformance of the CAD which has had the support of stronger oil pricing in this week’s strong USD environment. In focus today are the US and Canadian employment numbers, whilst next week’s quiet data schedule means oil (CAD) and the current reduced appetite for ‘risk/high yielders like the AUD should hold sway. This has us favouring buying CAD on rallies in this cross (towards 1.0100).
The current interbank midrate is:    AUDCAD 1.0020

The interbank range this week has been:    AUDCAD .9984 - 1.0103
Tuesday 4th October 3:00pm(NZT)
The Australian dollar has risen moderately against the Canadian dollar in recent trade. The retracement higher comes on the back of the strong bounce seen in the AUD/USD exchange rate out of the .7590/.7600 area during last week’s correction. Today’s RBA cash rate statement has the potential to be important for the cross, whilst in Canada it will be Friday’s employment data that looks most important on the scheduled data front. We favour buying CAD towards last week’s high in the short term, although the tone from today’s RBA statement will be interesting.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0075 1.0000 1.0170 1.0005- 1.0157

Friday 30th September 2:30pm(NZT)
The Australian dollar has fallen in trade against the Canadian dollar since our report on Tuesday. The move reflects the outperformance of the CAD after the surprise news yesterday that OPEC had agreed to curb production in Algeria. Prior to this the cross had reached levels ahead of 1.0160, just ahead of the Dec. 2015 1.0170 highs. Levels above 1.0100 look to be attractive for CAD buyers in this cross at present. We favour further downside next week, although oil market news and the RBA monetary policy statement on Tuesday will complicate.
The current interbank midrate is:    AUDCAD 1.0034

The interbank range this week has been:    AUDCAD 0.9952 - 1.0157
Tuesday 27th September 3:00pm(NZT)
The Australian dollar has rallied against the Canadian dollar since our last report. The move comes on the back of the CAD sell-off after the weaker than expected Canadian data on Friday. Considerations from the energy markets look set to again return to the driving seat over coming days as the Algerian oil producer meeting concludes on the 28th. Immediate resistance is around August’s 1.0120 highs and then 1.0170, although expect the oil headlines to create significant volatility in the CAD. The uncertainty of the outcome of the producer meeting creates significant uncertainty on the next move- although the recent surge would appear to offer a sound short-term opportunity to cover CAD requirements.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0099 1.0000 1.0120 0.9945 - 1.0110

Friday 23rd September 2:00pm(NZT)
The Australian dollar is sitting largely unchanged against the Canadian dollar since our report on Tuesday. Highs around 1.0020 have been seen this week and came on the back of the relative strength of the AUD given the markets reducing expectations for a further reduction in the Australian cash rate (post the RBA minutes and Governor Lowe’s speech of flexible inflation targeting). Some moderation has been seen in recent hours on the further strength in the oil price which has enjoyed the support of falling crude stockpiles and a weaker USD. Look to the key oil producer discussions in Algeria next week for key direction given the quiet data schedule (until Friday’s Canadian GDP numbers).
The current interbank midrate is:    AUDCAD 0.9979

The interbank range this week has been:    AUDCAD 0.9869 - 1.0023
Tuesday 20th September 2:00pm(NZT)
The Australian dollar has rallied against the Canadian dollar since our report on Friday. The move reflects a continued soft CAD (which has been pressured by the price of oil) and an AUD which yesterday benefitted from the announcement of increased RBA flexibility to target inflation (which look’s to allow greater flexibility around the hurdle for a further rate cut). In focus this week is today’s RBA minutes, whilst in Canada we look to oil pricing and economic data on Friday (retail sales and inflation). For now we note pressure on the topside of recent ranges.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9947 0.9720 0.9980 0.9812 - 0.9976

Friday 16th September 2:30pm(NZT)
The Australian dollar has lifted moderately in trade against the Canadian dollar this week. The move up reflects improving risk sentiment as global equity exchanges have stabilized during the week and the continued weak price of oil (CAD-). Focus for next week and today is once again on oil whilst are far as scheduled events go the RBA minutes on Tuesday are the first thing to watch (Canadian data features on Friday). We favour more range trading next week with the .9790-.9950 range of the last number of weeks looking very likely capture trade once again.
The current interbank midrate is:    AUDCAD 0.9870

The interbank range this week has been:    AUDCAD 0.9812 - 0.9893
Tuesday 13th September 1:30pm(NZT)
The Australian dollar has eased against the Canadian dollar since our report last week. The move comes on the back of a relatively weaker AUD after the hawkish comments from Fed officials on Friday saw the market re-price the odds (higher initially) of a Fed rate move next week. This week looks set to be quiet outside of the Australian employment data release on Thursday given the empty key Canadian data calendar and closed window for Fed official commentary. This has us favouring marginal upside that sees ranges within last week’s bounds (unless the Australian data materially surprises).
  Current Level Support Resistance Last week's range
AUD/CAD 0.9844 0.9720 0.9950 0.9819 - 0.9949

Thursday 8th September 2:30pm(NZT)
The Australian dollar has gained against the Canadian dollar since our commentary on Tuesday. Most of the gains occurred in overnight trade on the back of the weaker CAD which sold-off after the more dovish than expected commentary delivered by the BoC at their monetary policy meeting. Highs around the .9920 resistance level have capped the move so far however. Look to oil and the Canadian employment data tomorrow for immediate direction. For now we favour more trade within recent support/resistance prior to next Tuesday.
The current interbank midrate is:    AUDCAD 0.9886

The interbank range this week has been:    AUDCAD 0.9793 - 0.9921
Tuesday 6th September 3:30pm(NZT)
The Australian dollar has eased against the Canadian dollar since our commentary on Friday. The move comes on the back of the relative outperformance of the CAD primarily a result of the strong rally seen in the price of oil since our report. This comes on the back of both the weaker USD and reports of Saudi/Russian oil market cooperation. Expect a volatile week for the cross this week given that both countries have central bank meetings (Australia today and Canada on Wednesday). We favour selling AUD rallies above .9900 at present.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9834 0.9720 0.9920 0.9793 - 0.9907

Friday 2nd September 2:30pm(NZT)
The Australian dollar has lifted against the Canadian dollar in trade this week. The move reflects the relative underperformance of the CAD on the back of the weak oil price which has lost around 10% over the last 5 trading days. Next resistance for this cross is around .9950 (weak), whilst first support is seen at .9800 (weak). Canadian data tonight looks unlikely to inspire so look to oil for immediate direction prior to next week’s respective interest rate decisions (RBA on Tuesday and the BoC on Wednesday).
The current interbank midrate is:    AUDCAD 0.9884

The interbank range this week has been:    AUDCAD 0.9800 - 0.9907
Tuesday 30th August 2:00pm(NZT)
The Australian dollar is trading unchanged against the Canadian dollar since our commentary on Friday. Some volatility has been noted in the interim however, on the back of relative moves in the AUD which reflected the markets change in USD sentiment (and the appeal of high yielders) after the speeches by the Fed’s Yellen and Fischer. Canadian GDP data on Wednesday looks to be the most high impact release coming from either country this week, although we expect the cross to remain with ~.9800-.9890 until Friday’s US employment data.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9850 0.9800 0.9890 0.9800 - 0.9883

Friday 26th August 3:30pm(NZT)
The Australian dollar is sitting marginally lower against the Canadian dollar in trade since Tuesday. The lack of economic leads of note from either country this week has contributed to the subdued trade, although pricing has eased in recent hours on the back of the slightly stronger CAD which was buoyed by a rally in the price of oil ahead of this weekend’s Jackson Hole meeting of economic leaders. Look for any headlines out of this meeting to provide direction to close the week should they provide fresh momentum for the USD and $USD based commodity prices. For now first resistance lies ahead of .9900 whilst support is eyed at .9760 and .9720.
The current interbank midrate is:    AUDCAD 0.9845

The interbank range this week has been:    AUDCAD 0.9763 - 0.9892
Tuesday 23rd August 1:30pm(NZT)
The Australian dollar has reversed course against the Canadian dollar since our report on Friday. The move higher comes on the back of the weaker CAD which has underperformed the soggy AUD as weaker than expected local data and a large overnight reversal in the previously strong price of oil weighed. With a lack of any material data from either country this week it will be down to oil and comments out of the Jackson Hole meeting of central bankers to invite volatility this week. The uncertain nature of both means making a call on the next move for this cross is very difficult, so we accordingly have little view on the week.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9870 0.9720 1.0125 0.9763 - 0.9954

Friday 19th August 1:30pm(NZT)
The Australian dollar has fallen further against the Canadian dollar in trade this week. The move reflects the continued strength which has been seen in recent trade by the CAD which has enjoyed the benefit of a strong rally in the oil price this week. In contrast the performance of the AUD has been somewhat underwhelming given the extent of the pressure that the USD has been under this week. Canadian inflation and retail data later today is the immediate event of interest for this cross although look for AUD sentiment and the performance of oil to dictate next week. We favour selling rallies towards .9900 and are looking for this move to extend towards .9720/40 next week.
The current interbank midrate is:    AUDCAD 0.9803

The interbank range this week has been:    AUDCAD 0.9803 - 1.0000
Tuesday 16th August 1:30pm(NZT)
The Australian dollar has continued to retreat in trade against the Canadian dollar since our report on Friday. The move comes in an environment where the CAD is enjoying the benefit of a strong rebound in the price of oil and the AUD which has felt some pressure from weaker than expected Chinese data late last week. Economic data of interest to watch this week includes the Australian employment numbers on Thursday and Canadian inflation/retail data on Friday.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9914 0.9825 1.0125 0.9899 - 1.0097

Friday 12th August 2:30pm(NZT)
The Australian dollar has eased in trade against the Canadian dollar this week. Highs just above 1.0100 have reversed in recent trade on the back of the sharp rally in the CAD.  This has moved higher overnight on the back of the surging price of crude oil. Support is eyed at .9825 and .9730, whilst on the topside 1.0170 is the level to watch beyond this week’s highs. Look for oil based CAD sentiment to drive trade until next Thursday’s Australian employment data. The large reversal off this week’s highs now has us wary of this reversal extending further.
The current interbank midrate is:    AUDCAD 0.9968

The interbank range this week has been:    AUDCAD 0.9940 - 1.0097
Tuesday 9th August 2:30pm(NZT)
The Australian dollar has continued to rally strongly against the Canadian dollar since our commentary on Friday. The move higher reflects the strong demand for the AUD (even despite Friday’s strong US employment numbers) and the weaker CAD which has felt the weight of both a strong greenback and local data (on Friday), which was also very disappointing. There are few market moving scheduled events for the cross this week, although RBA Governor Stevens’s speech tomorrow should be noted. This has us favouring this move extending to the late 2015 highs around 1.0170 based on current momentum.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0073 0.9970 1.0170 0.9846 - 1.0093

Friday 5th August 12:30pm(NZT)
The Australian dollar has rallied against the Canadian dollar since our commentary on Tuesday. The move comes on the back of the relative outperformance of the AUD in the wake of the decision by the RBA to cut rates on Tuesday. Resistance at the .9970/80 level has capped so far although the current momentum in the AUD points to a possibility of the next resistance in the 1.0025/50 zone being tested. Events to watch are this afternoon’s RBA monetary policy statement and later Canadian data. Oil market developments will also continue to have a key bearing on the CAD.
The current interbank midrate is:    AUDCAD 0.9949

The interbank range this week has been:    AUDCAD 0.9846 - 0.9978
Tuesday 2nd August 3:00pm(NZT)
The Australian dollar sits unchanged in trade against the Canadian dollar since Friday. The lateral trading comes as a result of weakness in both the CAD and AUD in recent hours, the former on the back of a heavy oil price, the latter in the lead-up to this afternoon’s key decision on rates at the RBA monetary policy meeting. Resistance ahead of .9970 again should be appealing for CAD buyers in the event the RBA remains on hold, whilst a cut should open a move to support at .9730 in time. We lack any bias on the outcome this afternoon.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9889 0.9730 0.9970 0.9833 - 0.9971

Friday 29th July 1:45pm(NZT)
The Australian dollar sits largely unchanged in trade against the Canadian dollar this week. Resistance at .9970 has again repelled this week’s topside advance and comes during a quiet week of data so far that has seen limited volatility (some noted over the Australian inflation data) as both the CAD and AUD have failed to break-out against the greenback. We lack any bias from here for now. Events to watch start with second tier Australian data today, the later BOJ meeting (watched for AUD/JPY flow) and Canadian GDP data tonight.
The current interbank midrate is:    AUDCAD 0.9886

The interbank range this week has been:    AUDCAD 0.9768 - 0.9971
Tuesday 26th July 2:00pm(NZT)
The Australian dollar has continued to rally against the Canadian dollar since our report on Friday. The move comes on the back of the CAD weakness which has accelerated in overnight trade on the back of further falls in the price of oil. The oil move comes in response to a stronger USD and as concerns continue to remain over the extent of the oil inventory overhang. Look for oil and the Australian inflation data on Wednesday as being the key elements of concern for the cross prior to our report on Friday. For now momentum is to the upside, although a weak Australian inflation release is likely to see this quickly reverse as the market moves to fully price in a RBA rate cut next week.
  Current Level Support Resistance Last week's range
AUD/CAD .9892 .9730 .9970 .9738 .9888

Friday 22nd July 1:00pm(NZT)
The Australian dollar has lifted slightly against the Canadian dollar since our report on Tuesday. The move comes off lows set near .9730 that came after Tuesday’s RBA minutes raised expectations of an Australian cash rate reduction at the August review. Weakness in the CAD in recent hours has seen the cross bounce from its lows as a lurch lower in the price of oil weighed on CAD sentiment. Look for oil and Canadian data to dictate trade into the end of the week although risk sentiment (for the AUD) is always important. Look to next week’s Australian inflation data on Wednesday for further influence.
The current interbank midrate is:    AUDCAD 0.9814

The interbank range this week has been:    AUDCAD 0.9738 - 0.9880
Tuesday 19th July 1:00pm(NZT)
The Australian dollar has eased marginally against the Canadian dollar since our last report. Both currencies have eased against the stronger USD in recent trade, although in recent hours the AUD has eased ahead of this afternoon’s RBA minutes, perhaps though more than anything due to the weak performance by the NZD this morning. Beyond the RBA minutes look to the price of oil for direction and the Canadian inflation/retail data due on Friday. We favour buying CAD over the AUD on rallies in this cross.
  Current Level Support Resistance Last week's range
AUD/CAD .9785 .9780 .9970 .9792 - .9970

Friday 15th July 2:00pm(NZT)
The Australian dollar has fallen against the Canadian dollar in trade since the middle of this week.  Highs around .9970 were seen during the week although levels have subsided on the back of the rally in the CAD in response to a less dovish than expected BoC monetary policy report. Oil has had only a limited impact on the CAD this week whilst the Australian dollar has benefitted from increased political certainty and strong full-time employment numbers. Next week is quiet on the data front until Friday when Canada releases its latest figures on inflation and from the retail sector. The RBA minutes on Tuesday should be of some interest and again oil will be a useful CAD indicator. The strong reversal this week has us now marginally favouring buying CAD on rallies in the cross.
The current interbank midrate is:    AUDCAD 0.9828

The interbank range this week has been:    AUDCAD 0.9734 - 0.9970
Tuesday 12th July 1:00pm(NZT)
The Australian dollar has continued to rally against the Canadian dollar since our report on Friday. The move comes on the back of the positive response by the AUD as ‘risk’ currencies rallied on the back of the better than expected US employment data and as investors reacted to more clarity in the Australian political environment as vote counting at the weekend revealed a win to the current Liberal Coalition government. CAD weakness has also contributed to the move as oil prices continued their recent drift down overnight. Look to the BoC interest rate decision and commentary on Wednesday for initial direction prior to Thursday’s Australian employment data. Expect the price of oil to remain in focus.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9887 0.9740 0.9970 0.9649 - 0.9896

Friday 8th July 12:00pm(NZT)
The Australian dollar has lifted moderately against the Canadian dollar since our report on Tuesday. The move comes on the back of the falls in the CAD which have occurred as the price of oil dropped to near two month lows in recent trade. Falls in the AUD in recent hours has limited the gains in the cross as the market reacted to S&P comments over the Australian budget deficit. Look to employment data from both Canada and the US, the price of oil and the finalised outcome of the Australian election for direction in the immediate future. Momentum for the cross continues to be positive, first resistance is pegged in the .9785/.9810 zone.
The current interbank midrate is:    AUDCAD 0.9731

The interbank range this week has been:    AUDCAD 0.9613 - 0.9783
Tuesday 5th July 2:00pm(NZT)
The Australian dollar has continued to lift against the Canadian dollar since our report on Friday. The move reflects a currently supportive environment for risk (for the time being) and the appeal of the AUD in light of the highly uncertain environment in the UK and Europe. Momentum for the cross remains positive at present, although this may change should the RBA spring a surprise at today’s monetary policy meeting. Look to oil prices for CAD influence although for now prices are relatively stable.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9684 0.9580 0.9760 74.73 - 77.40

Friday 1st July 3:00pm(NZT)
The Australian dollar has lifted against the Canadian dollar in choppy trade this week. An increased appetite for risk currencies following the rebound in global equities and lift in market confidence has helped the AUD outperform over the course of this week. Support for the cross is now forming around .9580 whilst on the topside the .9730/60 zone has invited selling interest in recent sessions. Expect further choppy trade next week as the market risk appetite shifts over the week. Other events to note start with this weekend’s Australian election and the RBA cash rate decision on Tuesday.
The current interbank midrate is:    AUDCAD 0.9652

The interbank range this week has been:    AUDCAD 0.9513 - 0.9732
Tuesday 28th June 2:00pm(NZT)
The Australian dollar has eased against the Canadian dollar in the wake of the decision by the UK to leave the EU on Friday. The move comes on the back of the heavy selling which took place in the ‘risk’ currencies as investors moved to re-weight away from those currencies with the heaviest exposure to a likely slowdown in global growth. Oil prices have also fallen in the wake of the decision (CAD-), although the prevalent theme of ‘risk-off’ has dominated the move in this cross. Look for this theme to hold sway this week which has us favouring selling rallies for the time being.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9617 0.9500 0.9760 0.9513 - 0.9748

Friday 24th June 3:00pm(NZT)
The Australian dollar has rallied against the Canadian dollar in trade so far this week. The move comes on the back of the buying of ‘risk’ currencies like the AUD as expectations have grown through the week that the UK will choose to remain within the EU. Expect the final results to be known by about 7.00 a.m. London time although regional results will be issued throughout the day. Liquidity will be at a premium today and well into the start of next week so expect extreme moves. Levels to note are .9750/60 and .9850/60 on the topside and .9500, .9390 on the downside
The current interbank midrate is:    AUDCAD 0.9700

The interbank range this week has been:    AUDCAD 0.9501 - 0.9748
Tuesday 21st June 2:00pm(NZT)
The Australian dollar sits little changed since our last report in current trade against the Canadian dollar. Positive market sentiment based around a shift in Brexit polling towards those in favour of the UK remaining in the EU have helped both the AUD and CAD lift since Friday as the buying of ‘risk’ currencies helped the AUD and a move up in oil lifted the CAD. Look to today’s RBA minutes for first influence, although again expect Brexit based volatility to dominate. We lack a bias this week.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9555 0.9500 0.9590 0.9422 - 0.9587

Friday 17th June 3:00pm(NZT)
The Australian dollar has moved higher against the Canadian dollar since our report earlier in the week. The move comes on the back of the CAD weakness which was observed as the price of oil fell during the week. The recent oil price weakness can be put down to the unwinding of extended speculative ‘long’ positioning in oil, a shift which has occurred as uncertainty increases over the global implications of a potential UK exit from the EU. The Brexit issue has also weighed on risk flow which has exited the AUD during the week, although so far at least it has been the oil based CAD flow which has had the larger impact on the cross. Data is light next week so expect these issues to again dominate shifts in the cross.
The current interbank midrate is:    AUDCAD 0.9541

The interbank range this week has been:    AUDCAD 0.9391 - 0.9587
Tuesday 14th June 2:00pm(NZT)
The Australian dollar has firmed slightly against the Canadian dollar since our last report on Friday. Levels below .9400 traded into the end of last week on the back of the easing in the AUD/USD as investors averted riskier currencies like the AUD in the wake of fresh UK polls on the EU membership referendum. Subsequent gains have been seen this week on the back of the CAD which has been marked lower on softer oil prices. Look for these types of external factors to again play a significant role this week. Local data events include Australian employment on Thursday and Canadian inflation on Friday.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9473 0.9390 0.9540 0.9391 - 0.9545

Friday 10th June 3:00pm(NZT)
The Australian dollar sits relatively unchanged against the Canadian dollar since our report on Tuesday. Resistance at .9550 has continued to cap the cross this week despite the positive reaction by the AUD after Tuesday’s neutral RBA statement. Recent weakness has been noted on the back of the lower AUD over the last 24 hours which has outpaced the oil related slide in the CAD. Events to watch next week include Australian employment on Thursday and Canadian inflation on Friday. We continue to lack a bias although for now the momentum points to the downside.
The current interbank midrate is:    AUDCAD 0.9447

The interbank range this week has been:    AUDCAD 0.9437 - 0.9545
Tuesday 7th June 3:00pm(NZT)
The Australian dollar has eased against the Canadian dollar since our last report. A much weaker than expected US employment report on Friday has seen both currencies rally against the USD and the AUD reach highs above .9540 against the CAD after the data. Losses have been noted since as the CAD built on Friday’s momentum to extend its gains this week, on part on the back of continued support from the strong price of oil but also on the back of talk of decent trade flow USD/CAD selling. Of importance for the cross is today’s RBA cash rate decision this afternoon. We lack a clear view this week.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9449 0.9300 0.9550 0.9426 - 0.9539

Thursday 2nd June 1:30pm(NZT)
The Australian dollar has rallied against the Canadian dollar this week. The move comes on the back of strong Australian data so far this week (most so the Q1 GDP print). Trade in the CAD (against the USD) has been muted which sees it sit near the middle of its range on the week in present trade. Events to watch are the Australian retail and trade numbers this afternoon (likely of transitory impact) and any outcome from the OPEC oil producer meeting that may incite oil price volatility (most so CAD sensitive). Resistance lies from the weekly highs ahead of .9530 to .9550. Support is seen from .9330 to .9300.
The current interbank midrate is:    AUDCAD 0.9481

The interbank range this week has been:    AUDCAD 0.9329 - 0.9527
Tuesday 31st May 2:30pm(NZT)
The Australian dollar is largely unchanged against the Canadian dollar since our report on Friday. Events of note have lacked in the interim, although this looks set to change this afternoon with the release of Australian building approvals, current account and private sector credit data. GDP reports are also due from both countries this week, whilst Australian retail sales will also interest- but is likely to have a more transitory impact at best. Big picture momentum since early April focuses on the downside.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9381 0.9300 0.9515 0.9329 - 0.9502

Friday 27th May 2:00pm(NZT)
The Australian dollar has lost ground to the CAD this week. The AUD came under pressure in the wake of RBA Governor Stevens speech on Tuesday, then the CAD itself saw appreciation in the wake of the BOC’s rate statement on Wednesday night. Fresh cycle lows traded at 0.9329 and we have only seen a mild recovery since then. This keeps the focus on the downside for the time being. Data from Australia next week that could influence includes building approvals, GDP, retails sales and the trade balance. While from Canada we also get GDP and the trade balance.
The current interbank midrate is:    AUDCAD 0.9375

The interbank range this week has been:    AUDCAD 0.9329 - 0.9511
Tuesday 24th May 2:00pm(NZT)
The Australian dollar has lifted marginally against the Canadian dollar since our report on Friday. The move comes as the CAD remains weak against the USD, although so far the price of oil has held up well in the face of a reduction in the supply constraint pressures and extended speculative long positioning. Data this week from either country lacks punch- so look to oil/commodities and the BoC rate review on Wednesday for fresh direction (no change in rates is expected). Momentum for now is to the upside, resistance beyond .9550 is pegged around .9650.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9491 0.9360 0.9550 0.9389 - 0.9511

Friday 20th May 3:00pm(NZT)
The Australian dollar has lifted moderately against the Canadian dollar since our report on Tuesday. The move up comes despite the price of WTI oil setting fresh highs for 2016 in Asian trade this morning and represents an underperformance by the CAD in the face of a strong rally in the USD this week. Lows around .9360 may offer some support on a retracement next week whilst on the topside first resistance looks to be ahead of .9550. Look to oil and Canadian data later today for immediate direction. We are unsure of the next move for now.
The current interbank midrate is:    AUDCAD 0.9464

The interbank range this week has been:    AUDCAD 0.9361 - 0.9488
Tuesday 17th May 2:00pm(NZT)
The Australian dollar has lifted marginally against the Canadian dollar since our report on Friday. The move comes despite a strong rise in the price of oil overnight and has been seen after the AUD recovered well from yesterday’s weak opening after the worse than expected Chinese data that was released at the weekend. Data of interest this week  includes the Australian employment numbers on Thursday and Canadian retail and inflation releases on Friday. Oil prices and commodity pricing overall will again be important as will be the sentiment shown towards the AUD after the recent large move lower.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9400 0.9300 0.9450 0.9361 - 0.9543

Friday 13th May 3:00pm(NZT)
The Australian dollar has continued to fall against the Canadian dollar this week. The move represents a continuation of that seen from last week after the RBA rate cut.  Sentiment shown towards the AUD remains bearish this week and comes as the market has upgraded its expectation for further cuts this year. We continue to favour selling rallies (towards first resistance at .9450) in this cross based on a positive view of the price of oil over time. Inflation data from Canada (Friday) and employment numbers from Australia (Wednesday) feature on the data calendar next week.
The current interbank midrate is:    AUDCAD 0.9382

The interbank range this week has been:    AUDCAD 0.9376 - 0.9547
Tuesday 10th May 2:00pm(NZT)
The Australian dollar has resumed its decline of recent weeks against the Canadian dollar in recent trade. Sentiment towards the commodity currencies is very heavy at present which has been negative for both the CAD and AUD over the last week. Relative weakness in the AUD has been a result of the further pressure that has been placed on the AUD post the RBA rate cut last week and bearish RBA assessment of inflation on Friday in the RBA SOMP. We favour selling rallies for now as the market continues to digest the implications of the RBA commentary from last week
  Current Level Support Resistance Last week's range
AUD/CAD 0.9474 0.9300 0.9650 0.9462 - 0.9654

Friday 6th May 2:00pm(NZT)
The Australian dollar sits near Tuesday’s reported levels against the Canadian dollar in current trade. The apparent lack of volatility belies what has been a busy week for this cross. The price action saw the AUD trade down to near .9450 against the Canadian after Tuesday’s decision by the RBA to cut rates. Recent weakness in the CAD has allowed the cross to revert to above .9600 on the back of the underperformance in the weak commodity currency environment. Resistance is noted around .9750, support beyond the weekly lows is seen around .9300. We favour selling AUD rallies, but would wait until nearer .9750. Today’s RBA statement on monetary policy and tonight’s US/Canadian employment data are the immediate events of interest.
The current interbank midrate is:    AUDCAD 0.9603

The interbank range this week has been:    AUDCAD 0.9462 - 0.9654
Tuesday 3rd May 2:20pm(NZT)
The Australian dollar has lifted moderately against the Canadian dollar since our report on Friday. The move comes on the back of the rally in the AUD/USD exchange rate on the back of weaker than expected US data since Friday. The CAD has failed to join the rally against the USD on the back of the declines seen in the price of oil in recent trade. Look for volatile price action later today over the RBA cash rate decision given the even nature of expectations. Expect the immediate support or resistance levels to be challenged in time after the decision.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9600 0.9520 0.9750 0.9527 - 0.9810

Friday 29th April 2:00pm(NZT)
The Australian dollar has continued its move lower this week in trade against the Canadian dollar. The move was largely data based and came after a large miss in the Australian inflation report on Wednesday. Oil prices which are trading at six month highs continue to provide solid support for the CAD however. Canadian GDP (tonight) and the RBA cash rate decision on Tuesday are the immediate key events of interest for this cross. We remain bearish on the AUD/CAD cross, although this week’s large decline increases the risk of a rebound, especially should the RBA remain on hold next week. Resistance (above .9600) is seen in the .9735/50 zone. Support should be seen in the .9500/.9520 area.
The current interbank midrate is:    AUDCAD 0.9577

The interbank range this week has been:    AUDCAD 0.9549 - 0.9879
Tuesday 26th April 2:20pm(NZT)
The Australian dollar has continued to fall against the Canadian dollar since Friday’s report. The move comes while the Canadian dollar has been somewhat insulated from the declines in key commodities (notably oil, and iron ore) after the much better than expected Canadian core inflation and retail sales data on Friday. Inflation data for Australia now features in the next 24 hours, whilst Canadian GDP data on Friday should also provide some interest. Look for oil prices and the US FOMC meeting also to have additional bearing, the latter due to its potential to impact on risk and high yielder sentiment (AUD).
  Current Level Support Resistance Last week's range
AUD/CAD 0.9778 0.9600 0.9970 0.9745 - 0.9943

Friday 22nd April 2:00pm(NZT)
The Australian dollar has eased from its highs (~.9960) set against the Canadian dollar earlier this week. The move lower comes as the CAD has outperformed the AUD in recent trade. This comes in an environment of a stronger USD post the overnight ECB meeting. First resistance for next week remains around .9970 and then in the 1.0025/50 zone (stronger). Support is noted at .9750. Canadian inflation and retail sales data feature tonight, whilst next week is likely to be dominated by Australian leads. We continue to favour the CAD over the AUD based on a favourable outlook for the price of oil over time.
The current interbank midrate is:    AUDCAD .9860

The interbank range this week has been:    AUDCAD .9843 - .9962
Tuesday 14th April 2:40pm(NZT)
The Australian dollar has firmed against the Canadian dollar since our report on Friday. Resistance around .9970 has capped the gains so far this week. The move up has been helped this by a rally in commodity prices and a stronger AUDUSD exchange rate, which has reached fresh 9 month + highs overnight. Rallying oil prices should keep a lid on any further gains above .9970 during the week. Canadian inflation and retail sales data will feature at the end of the week. Stronger resistance is seen in the 1.0025/50 zone.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9927 0.9850 0.9970 0.9756 - 0.9962

Friday 15th April 2:00pm(NZT)
The Australian dollar has rallied against the Canadian dollar since our last report. The move comes on the back of the strong gains which have been seen by the AUD, especially since yesterday’s Australian employment data. Both currencies are benefitting from improving commodity prices, although with a greater exposure to oil look for the CAD to get a bigger impact from the outcome of this weekend’s Doha oil country producer meeting. Resistance lies around the weekly highs (~.9900) and .9970 beyond. Stronger resistance is seen in the 1.0025-50 zone.
The current interbank midrate is:    AUDCAD 0.9868

The interbank range this week has been:    AUDCAD 0.9756 - 0.9907
Tuesday 12th April 2:30pm(NZT)
The Australian dollar has continued to fall against the Canadian dollar since our report on Friday. This move comes on the back of the large rally in oil prices on Friday and strong Canadian employment data release. Both currencies are benefitting from rallying commodities, although Canada’s higher exposure to oil prices continues to hold sway at present for the general direction of this cross. Australian employment data on Thursday and the BoC interest rate decision earlier in the day are the notable scheduled events for the cross this week. We favour selling rallies, preferably towards .9900 if possible.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9796 0.9600 0.9850 0.9794 - 0.9970

Friday 8th April 2:00pm(NZT)
The Australian dollar has continued to ease against the Canadian dollar since our last report. The move comes mainly on the back of heavy selling which has happened in many currencies against the JPY over recent days. This flow has been particularly notable in the AUD/JPY which has dented the fortunes of the AUD relative to the CAD. Canadian data (employment) and oil pricing are the immediate events of interest ,although demand for the JPY will be important over coming days for the direction of the AUD.
The current interbank midrate is:    AUDCAD 0.9877

The interbank range this week has been:    AUDCAD 0.9856 - 1.0025
Tuesday 5th April 2:30pm(NZT)
The Australian dollar has eased against the Canadian dollar in trade so far this week. Declines have come about on the back of the overall slide seen in the broad CRB commodity index, although oil has been a notable contributor to the move in the index (CAD-). The RBA cash rate decision is the main focus (outside of oil/commodities and risk flow) for the cross this week, although Canadian data will feature later in the week. With the market near unanimous on no rate move focus will be on any associated commentary around the current value of the AUD level and whether it has been incorporated into the RBA statement rhetoric.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9937 0.9880 1.0050 0.9893 - 1.0025

Friday 1st April 3:30pm(NZT)
Trade in the Australian dollar against the Canadian dollar has been relatively contained this week. Highs just above 1.0000 have been seen, although the gains moderated after the release of better than expected Canadian GDP data overnight. Both currencies benefitted during the week from Fed Chair Yellen’s cautious comments over the outlook for US rates this year (USD-). Some support has been seen twice this week under .9900 and further support should be seen around .9860. We favour more contained ranges for now, at least until the RBA announcement on Tuesday.
The current interbank midrate is:    AUDCAD 0.9961

The interbank range this week has been:    AUDCAD 0.9893 - 1.1101
Tuesday 29th March 2:30pm(NZT)
Trade in the Australian dollar against the Canadian dollar has continued to be relatively mundane since our last report. Highs in the cross were noted towards the end of the week after data which showed crude oil inventories rising to 80 year highs (CAD-). Light data calendars points to more sideways trade for the cross this week. As is usual developments in the oil markets need to be watched closely.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9950 0.9860 1.0000 0.9903 - 0.9992

Tuesday 22nd March 3:30pm(NZT)
Trade in the Australian dollar has been lacklustre so far against the Canadian dollar this week, although a drift higher has been observed over recent hours. This comes on the back of a CAD which has failed to rally (against the USD) despite oil prices rallying to fresh 2016 highs in trade overnight. We expect a very quiet week’s trade in this cross this week given the Easter holiday and quiet data calendars. We marginally favour selling rallies above .9950 at present.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9909 0.9860 0.9970 0.9866 - 1.0002

Friday 18th March 1:30pm(NZT)
The Australian dollar has drifted lower against the Canadian dollar this week. The move comes after both currencies have rallied significantly against the USD over the last 36 hours post the US FOMC interest rate meeting. The decision by the US Fed to lower their anticipated interest rate path has led to further gains in commodity pricing, particularly so for gold and oil, pricing for the latter breached $US 40 overnight (WTI). This has seen the CAD outperform again. We favour rallies to cap near .9970 for now; Canadian data will feature tonight although again we favour the CAD marginally over the AUD as oil prices continue their recovery.
The current interbank midrate is:    AUDCAD 0.9921

The interbank range this week has been:    AUDCAD 0.9890 - 1.0033
Tuesday 15th March 1:30pm(NZT)
The Australian dollar is largely unchanged against the Canadian dollar since our report on Friday. Positive momentum noted on Friday continued until well into yesterday on the back of the strong showing in the AUD/USD which peaked just ahead of .7600. The AUD/CAD advance failed to breach the weekly highs (1.0050) however, despite the release of worse than expected Canadian employment data late on Friday. Look to today’s RBA minutes as the first event of influence for the cross, events to note later in the week include Australian employment numbers on Thursday and Canadian inflation and retail sales numbers at the end of the week.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9972 0.9600 1.0050 0.9882 - 1.0052

Friday 11th March 1:30pm(NZT)
The Australian dollar has advanced against the Canadian dollar this week although sits well off its highs in current trade. This comes after yesterday’s decline which was seen after the CAD benefitted from a more upbeat than expected statement during the BoC interest rate announcement. An inability in the AUD/USD to build on its rally from earlier in the week has meant that the cross has stabilized after the fall. Initial resistance is now seen around .9960 although the weekly highs at 1.0050 offer a stronger buffer. Canadian employment numbers tonight are the first focus for this cross. Oil market news will again be pivotal over coming days.
The current interbank midrate is:    AUDCAD 0.9950

The interbank range this week has been:    AUDCAD 0.9851 - 1.0052
Friday 4th March 6:00pm(NZT)
The Australian dollar has marched higher against the Canadian dollar in trade this week. This comes on the back of the strong surge in the AUD/USD exchange rate which has benefitted like the CAD from positive commodity currency sentiment this week. Despite solid oil gains during the week the AUD has managed to outperform on the back of the more positive environment for risk taking that emerged as the week progressed and on the back of better than expected Australian Q4 GDP data. We favour selling this cross from here. Beyond the weekly highs (~.9885) resistance should be seen from .9925-.9965.
The current interbank midrate is:    AUDCAD 0.9862

The interbank range this week has been:    AUDCAD 0.9602 - 0.9881
Tuesday 1st March 2:30pm(NZT)
The Australian dollar is edging higher against the Canadian dollar in present trade after experiencing sharp falls from its mid week highs established last week. A firming oil price has again helped support the Canadian dollar in recent trade whilst the AUD/USD fell quite heavily after the better than expected U.S. data on Saturday morning. We favour selling rallies in this cross but note the strong falls in the cross mean much better entries may be on offer during the week. Data calendars from both countries are heavy; the first key event is the RBA monetary policy meeting this afternoon.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9662 0.9610 0.9725 0.9611 - 0.9964

Friday 26th February 2:00pm(NZT)
After a strong start to the week the Australian dollar has given up all of its gains to sit near its lows against the Canadian dollar in present trade. This comes on the back of the strong rally overnight in the CAD which rallied to highs last seen against the USD in early December. Oil price gains again help explain the lift, although the CAD has performed very strongly in recent hours. The data calendar is busy for both regions next week. We favour selling rallies, although resistance at .9965 and .9990/1.0000 looks a long way off at present. First key support is seen in the .9680/.9710 zone, prior support is eyed around .9760.
The current interbank midrate is:    AUDCAD 0.9801

The interbank range this week has been:    AUDCAD 0.9769 - 0.9964
Tuesday 23th February 4:00pm(NZT)
The Australian dollar has rallied in trade so far this week against the Canadian dollar. This comes on the back of the strong rally seen in the AUD, particularly so in overnight trade. Both currencies are notable beneficiaries of commodity price gains, although the AUD may have received additional support overnight on the back of the 6% surge in iron ore pricing, more positive risk sentiment and continued perceived reluctance of the RBA to cut rates further. Resistance beyond .9930 is seen in the .9990/1.0000 zone. Data considerations don’t feature this week.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9902 0.9760 0.9930 0.9766 - 0.9924

Friday 19th February 2:00pm(NZT)
The Australian dollar has drifted lower in trade against the Canadian this week. Oil market sentiment towards the CAD has again been the main driver of the easing in price seen by this cross this week. Weaker than expected Australian employment data passed without too much concern yesterday and we would be surprised if the Canadian data tonight does anything different. We continue to favour selling rallies in this cross based on the continued slow recovery we expect to see in oil pricing. Resistance lies in the .9900/.9930 zone at present.
The current interbank midrate is:    AUDCAD 0.9819

The interbank range this week has been:    AUDCAD 0.9766 - 0.9916
Tuesday 16th February 2:00pm(NZT)
The Australian dollar is drifting in current trade against the Canadian dollar. This comes after both currencies have enjoyed decent gains against the USD since our last report, the CAD on the back of improving oil pricing, and the AUD mainly on improving risk sentiment. These themes look set to dominate again this week, although Australian employment (Thursday) and Canadian inflation/retail sales (Sat. morning) should be noted. We favour selling rallies noting recent lower tops on up-swings, and also fearing the potential for a more concrete development from the OPEC producers to curtail production.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9880 0.9700 0.9930 0.9715 - 0.9925

Friday 12th February 2:00pm(NZT)
The Australian dollar has recovered well from its losses seen earlier in the week against the Canadian dollar. This comes on the back of declines in the CAD as oil prices continued their slide, liquidation out of USD longs has also meant that the AUD has benefitted more so than the CAD, especially given its yield desirability. Resistance to this upswing should lie just ahead of 1.0000 and then 1.0090/1.0100. These themes look set to dominate the economic calendar again next week although Australian data on Thursday (employment) and Canadian numbers on Saturday morning should be noted.
The current interbank midrate is:    AUDCAD 0.9896

The interbank range this week has been:    AUDCAD 0.9715 - 0.9925
Tuesday 9th February 3:00pm(NZT)
The Australian dollar continues to edge lower against the Canadian dollar in trade this week. This is a continuation of the theme seen so far in 2016 and comes on the back of the sharp reversal in fortunes of the USD/CAD exchange rate seen since Jan 20. Another fall in the oil price this week, whilst denting the CAD fortunes, has been balanced by large falls in the AUD/USD since our report on Friday. This occurred amidst the heavy declines seen in global equities. Elevated global growth and credit market concerns will continue to dominate the ‘risk sensitive’ AUD flow this week, the CAD meanwhile will continue to be heavily influenced by oil market developments. We favour selling rallies in this cross.
  Current Level Support Resistance Last week's range
AUD/CAD .9845 .9720 .9915 .9795 -.9952

Friday 5th February 2:00pm(NZT)
The Australian dollar sits marginally lower from its opening levels against the Canadian dollar this week in current trade. This comes on the back of the strong showing seen by the CAD this week on the back of the improving oil pricing, although these gains were tempered somewhat in overnight trade. A reduction in extended long USD positioning has benefitted both currencies during the week. Today should be reasonably important for this cross given the data calendars out of both countries. Oil pricing and USD liquidating flows will also be key drivers.
The current interbank midrate is:    AUDCAD 0.9905

The interbank range this week has been:    AUDCAD 0.9815 - 0.9985
Tuesday 2nd February 2:00pm(NZT)
The Australian dollar continues to remain range bound against the Canadian dollar in recent trade as both the CAD and AUD continue to post solid gains against the USD. We see a decent likelihood of this cross moving beyond the immediate support and resistance levels this week given the event calendar which starts with the RBA cash rate meeting announcement this afternoon. Friday/Saturday morning will also be busy with a number of Australian and Canadian announcements due. We lack bias for now, although marginally favour lower levels in light of the recent superior CAD strength.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9910 0.9850 0.9950 81.49 - 86.32

Friday 29th January 1:30pm(NZT)
The Australian dollar has remained largely range-bound against the Canadian dollar in trade this week. Both currencies have benefitted from an improvement in key commodity prices, particularly oil (most so the CAD), although the AUD received an additional boost from a better than expected Q4 inflation print and to a certain extent a more cautious (than previous) U.S. Fed FOMC statement. We have a moderate downside bias to this cross especially as the oil price looks to have based for the time being. Canadian GDP data features tonight, next week’s events of note include the RBA meeting on Tuesday, Australian retail sales on Friday along with Canadian employment and the Ivey PMI releases later in the day (Sat. morning NZ time).
The current interbank midrate is:    AUDCAD 0.9945

The interbank range this week has been:    AUDCAD 0.9848 - 1.0021
Tuesday 26th January 4:00pm(NZT)
The Australian dollar is trading with a soft tone against the Canadian dollar in current trade and presently sits well below the highs from last week. The surging AUD/USD exchange rate seen towards the latter part of week derived from the improvement in risk sentiment, whilst the CAD also experienced solid gains on the less dovish than expected comments from BOC Governor Poloz and strong oil price rally. Australian inflation data tomorrow and Canadian GDP data on Saturday morning are additional factors to consider for the pair this week. We favour selling rallies as the strong upside momentum seen in the last two months of 2015 now appears to have finished.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9921 0.9820 1.0090 0.9883 - 1.0085

Friday 22nd January 2:30pm(NZT)
The Australian dollar sits towards the middle of its weekly range against the Canadian dollar presently. It has been a choppy week for both the AUD/USD and USD/CAD exchange rates with both the AUD and CAD firming significantly in trade overnight. The CAD was the primary benefactor of the bounce seen in oil prices, whilst the AUD was seen benefitting more from the improving market risk sentiment. These issues will again dominate next week which is likely to see this cross be bound by the .9800 and 1.0200 levels. The market may again sit within the .9900/1.0100 levels as was the case this week, if both currencies are seen to again ebb on similar forces.
The current interbank midrate is:    AUDCAD 1.0010

The interbank range this week has been:    AUDCAD 0.9915 - 1.0014
Tuesday 19th January 2:00pm(NZT)
The Canadian dollar has seen relentless selling for much of the past two months as oil price declines suck the life out of large parts of the Canadian economy. In the first two weeks of this year a sharp fall in the value of the Australian dollar saw the AUDCAD cross pull back from the highs around 1.0170 to a low of 0.9815. In the past week however the Canadian dollar has again underperformed and this has driven the cross rate back above parity. The latest bout of CAD weakness comes amid the lifting of Iranian sanctions which has pressured the price of oil even further. We can expect continued volatile trading over the coming weeks with the risks still skewed to the topside for the pair. Today’s GDP result from China will draw attention, but the biggest impact of the week could come from the Bank of Canada’s interest rate meeting. It’s a very close call whether they cut interest rates or not in response to the latest down leg in oil. Expect choppy trade between the broad parameters of 0.9800 and 1.0200.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9990 0.9800 1.0200 0.9897 - 1.0063

Tuesday 12th January 2:00pm(NZT)
The Australian dollar peaked against the Canadian dollar at the end of 2015 on a surge that took it from ~.9150 in early September to highs near 1.0170. The AUD has fared poorly so far in 2016 against its Canadian counterpart however, on the back of the heavy ‘risk off’ flows seen as concerns mount over the health of the Chinese economy. These concerns have continued to weigh on commodity prices (ex. Gold), this has seen the oil price plumb fresh cyclical lows overnight below $US 31 a barrel (WTI). These themes will continue to dominate sentiment towards this cross over the week ahead, although the Australian employment data release on Thursday will add additional interest.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9935 0.9820 1.0170 0.9824 - 1.0036

Friday 15th January 2:30pm(NZT)The Australian dollar has risen sharply against the Canadian dollar this week as market risk sentiment has slowly improved over the course of the week (particularly so overnight). The CAD meanwhile continues to trade with a heavy tone trading nearly its multi-years lows against the USD as the oil price struggles to rally from its WTI lows seen this week (just below $US30). The ‘risk’ and oil price themes will continue to dominate trade in this cross next week although the Canadian BOC interest rate decision and inflation/retail sales data releases will serve to complicate the picture.
The current interbank midrate is:    AUDCAD 1.0035

The interbank range this week has been:    AUDCAD 0.9824 - 1.0044
Tuesday 22nd December 2:00pm(NZT)
The Australian dollar continues to surge higher against the Canadian dollar in recent trade, and presently sits on its highs. Depressed oil prices and a soft Canadian inflation print on Friday have been the key contributors to the gains. The earlier 2015 highs around 1.0085 are the next topside target prior to more important resistance around 1.0250. . First support is seen in the .9840/50 area. Oil pricing and thinning market liquidity will be the key issues to consider over the holiday period. Canadian retail sales and GDP data are set for release on Christmas Eve day.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0043 .9840 1.0085 .9839 - 1.0051

Friday 18th December 2:30pm(NZT)
The Australian dollar sits towards the middle of its weekly range against the Canadian dollar in current trade. Highs around 1.0010 were noted yesterday as the continued weakness seen in energy markets weighed on the CAD. The oil/energy pricing theme looks set to continue to dominate movements for this cross, although some reprieve has been seen for the CAD in recent hours despite the oil price sitting near its lows. First support is seen in the .9840/50 area. Canadian inflation data will feature tonight.
The current interbank midrate is:    AUDCAD 0.9927

The interbank range this week has been:    AUDCAD 0.9839 - 1.0001
Tuesday 15th December 2:00pm(NZT)
The Australian dollar has continued to rally against the Canadian dollar since our last report, peaking at highs around .9980 so far. Firm Australian data and the continued weakness in oil and energy pricing (WTI oil pricing set fresh lows at $US 34.50 overnight) have been the main contributors to the continued strength. Further gains appear likely for the time being, although the risk for a correction lower looks to be increasing, especially as the oil price moves towards the lows seen during the GFC which may signal the area for a subsequent rally from over-sold levels.
  Current Level Support Resistance Last week's range
AUD/CAD .9950 .9850 1.000 .9751 - .9981

Friday 11th December 2:30pm(NZT)
The Australian dollar continues to trade strongly against the Canadian dollar in present trade as heavy oil prices which are setting fresh lows in current trade, take a toll on the CAD. Strong Australian employment numbers released yesterday have added to the upside impetus. First support for this cross should now come in ahead of .9850. Some resistance may be seen beyond the recent highs in the .9980/1.0000 area initially, and then the 1.0050/90 zone beyond. Higher levels are favoured in the current environment.
The current interbank midrate is:    AUDCAD 0.9910

The interbank range this week has been:    AUDCAD 0.9744 - 0.9940
Tuesday 8th December 2:30pm(NZT)
The Australian dollar continues to trade well against the Canadian dollar, although presently sits shy of its recent .9845 highs. The Australian dollar should continue to outperform the Canadian in the current weak oil price environment, but having said that, Australian employment data to be released on Thursday has the potential to alter proceedings (at least temporarily).
  Current Level Support Resistance Last week's range
AUD/CAD 0.9800 0.9580 0.9880 0.9650 - 0.9844

Friday 4th December 2:00pm(NZT)
The Australian dollar continues to build on its recent gains against the Canadian dollar in present trade. Australian data this week has largely been sound, whilst in contrast the Canadian dollar continues to feel the heat from a weak oil price. News from the OPEC meeting taking place today will dominate sentiment towards the CAD. Despite talk of output reductions market analysts believe it is unlikely any agreement on production cuts will be met. Canadian employment data will be watched later today, Australian employment data due next Thursday is always important..
The current interbank midrate is:    AUDCAD 0.9785

The interbank range this week has been:    AUDCAD 0.9588 - 0.9819
Tuesday 1st December 4:00pm(NZT)
The Australian dollar sits just adrift of its recent highs against the Canadian dollar today. The current momentum should take this cross higher especially given the continued weakness seen in the oil market. A heavy data calendar out of both countries has the potential to change proceedings however, and makes calling the next move a difficult one. Cash rate decisions and GDP data from both countries over the next 48 hours form the immediate threat.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9670 0.9580 0.9750 0.9588 - 0.9681

Friday 27th November 2:30pm(NZT)
The Australian dollar sits well off its highs (~.9680) seen against the Canadian dollar in recent trade as the effect of rallying oil prices (CAD positive) and a weaker than expected Australian Q3 CAPEX release weigh. Next week’s heavy data calendar’s out of both countries makes the next move difficult to call, geopolitical tensions and oil market developments will also be pivotal. First support is seen around .9500 and .9440 beyond.
The current interbank midrate is:    AUDCAD 0.9602

The interbank range this week has been:    AUDCAD 0.9558 - 0.9681
Tuesday 24th November 3:00pm(NZT)
The Australian dollar trades strongly against the Canadian dollar currently despite weak commodity prices which are impacting both the AUD and CAD. The AUD/USD exchange rate move post the FOMC minutes late last week was the primary driver of the gains seen in this cross as AUD/USD sold positions were paired. A light data calendar and a view towards higher levels in the AUD/USD has us marginally favouring a move higher in this cross, the caveat being a strong move higher in oil pricing (CAD+).
  Current Level Support Resistance Last week's range
AUD/CAD 0.9605 0.9500 0.9680 0.9437 - 0.9665

Thursday 19th November 1:00pm(NZT)
This pairing has traded a relatively tight .9425-.9500 range over the last week. The tight range is indicative of these commodity currencies more ebb and flowing on wider market sentiment as opposed to being driven by domestic based economic news. Later today we get the latest inflation data from Canada and this provides the focus in the near term. Expect further range trading in the week ahead with the wider .9350 - .9550 like to contain the price action in the absence of any material economic data due for either economy.
The current interbank midrate is:    AUDCAD 0.9460

The interbank range this week has been:    AUDCAD 0.9363 - 0.9504
Tuesday 17th November 3:00pm(NZT)
The Australian dollar has remained well contained against the Canadian dollar since our last report. Canadian data due for release on Friday and energy market developments will be key for this cross this week. Albeit wider market risk sentiment should also be noted. We lack any bias for now and expect the cross to be well contained heading into Friday’s Canadian data. Current momentum is for a lower AUD. Key support is at the .9300 level.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9465 0.9300 0.9580 0.9314 - 0.9504

Friday 13th November 2:00pm(NZT)
The Australian dollar trades strongly against the Canadian dollar after yesterday’s strong Australian October employment release. Weakening oil prices overnight (CAD negative) have seen it retain most of its gains which saw it trade to highs around .9490. First support is eyed around the .9440/50 region and this cross should remain in demand while oil prices remain heavy. Key resistance is around the .9580 area. Canadian inflation data due for release next Friday will be watched.
The current interbank midrate is:    AUDCAD 0.9480

The interbank range this week has been:    AUDCAD 0.9314 - 0.9493
Tuesday 10th November 1:30pm(NZT)
The Australian dollar has eased against the Canadian dollar post the release of a better than expected U.S. employment report on Friday. The increased market expectation of a December Fed rate hike has dampened risk enthusiasm, somewhat placing pressure on the AUD. Better than expected Canadian employment data also released on Friday has helped moderate any CAD underperformance. Australian employment data due for release on Thursday should be watched closely.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9355 0.9300 0.9450 0.9337 - 0.9444

Friday 6th November 1:00pm(NZT)
The Australian dollar has picked up against its lows seen at the start of week against the Canadian dollar after the RBA failed to cut interest rates from the present 2.0% setting, against the expectations of many. Initial resistance comes in near the weekly highs ahead of .9450 although better resistance lies much higher around .9580. Support is eyed around .9300. Immediate direction for this cross will come from the release of today’s RBA minutes and later Canadian unemployment data. Next Thursday’s Australian employment report will also be of major interest.
The current interbank midrate is:    AUDCAD 0.9410

The interbank range this week has been:    AUDCAD 0.9294 - 0.9440
Tuesday 3rd November 5:30pm(NZT)
The Australian dollar has fallen sharply against the Canadian from highs set around .9578 early last week. Today’s RBA cash rate announcement will be pivotal to the next move in this cross. Expectations for a rate cut from the current 2.0% cash rate have lifted after last week’s soft Australian Q3 inflation report. Canadian unemployment data and IVY PMI along with the RBA statement on monetary policy on Friday will also be important drivers. We see the upside as being especially vulnerable given the swift down-leg last week, although naturally the RBA is paramount.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9375 0.9290 0.9400 0.9294 - 0.9578

Friday 30th October 2:30pm(NZT)
The Australian dollar has fallen sharply against the Canadian from highs set around .9578 early in the week. The decline has been largely driven by falls in the AUD after a soft Australian Q3 inflation report raised the market expectations for an RBA rate cut at next Tuesday’s meeting. The AUD was also impacted more severely than the CAD after the more hawkish than expected U.S. FOMC statement. First support for this cross should be seen around .9250, while initial resistance now lies above .9400. Losses this week look harsh to us, Canadian GDP tonight will be of interest.
The current interbank midrate is:    AUDCAD 0.9340

The interbank range this week has been:    AUDCAD 0.9308 - 0.9578
Tuesday 27th October 4:00pm(NZT)
The Australian dollar made solid gains against the Canadian dollar last week. The move was driven largely by CAD weakness as dovish central bank rhetoric, soft economic data and declining oil prices weighed on the Canadian currency. The market is currently trading just under last week’s high at 0.9546. Support is seen just below 0.9500 and while above the level the risks remain skewed to the topside. Australian inflation data tomorrow will draw focus with attention then turning to Friday’s release of Canadian GDP.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9542 0.9490 0.9650 0.9386 - 0.9552

Friday 23rd October 1:30pm(NZT)
Gains by the Aussie against the Canadian dollar have been limited to .9490 this week as CAD declines post the BoC Canadian 2016 GDP downgrades have been offset by AUDUSD falls on the back of RBA rate cut chatter and risk-off trades. Inflation data out of Canada tonight and Australia on Tuesday next week will set the tone for trade over the next few days. First support lies around .9385, resistance around .9490, we lack bias although the momentum for now is marginally lower.
The current interbank midrate is:    AUDCAD 0.9452

The interbank range this week has been:    AUDCAD 0.9360 - 0.9490
Tuesday 20th October 1:25pm(NZT)
The Australian dollar peaked against the Canadian dollar early last week around .9580. Soft Chinese trade and inflation data, a weaker than expected September Australian employment release and calls by many market players for an RBA response to the move by a leading Australian bank to increase the variable mortgage rate have all contributed to the correction lower in the AUDCAD. Canadian events should drive the cross this week (Bank of Canada rate meeting, Canadian inflation data), although the overnight rally shows that oil prices (lower overnight) will continue to be a significant driver.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9440 0.9355 0.9580 0.9360 - 0.9570

Friday 16th October 3:00pm(NZT)
The Australian dollar peaked against the Canadian dollar early in the week around .9580 prior to the release of soft Chinese trade and inflation data. This data negatively impacted the Aussie with China being Australia’s largest export partner. First support is forming around .9375, although gains from these lows seen earlier in the week (post the highs) have been tempered by yesterday’s softer than expected Australian employment data. Next week’s Canadian events should drive this cross with the Canadian election, BoC monetary policy meeting and inflation data all featuring.
The current interbank midrate is:    AUDCAD .9399             

The interbank range this week has been:    AUDCAD .9381 - .9583 
Tuesday 13th October 2:00pm(NZT)
The Australian dollar continues to outperform the Canadian dollar trading near its recent highs of the current move. Both currencies have been benefitting from firming commodity prices. The AUD has gained additional impetus from improving risk sentiment, whilst the CAD improvement has been tempered somewhat by last Fridays’ weaker than expected Canadian employment data. Australian employment data this Thursday is to be watched, although for the time being momentum is to the upside.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9565 0.9435 0.9680 0.9256 - 0.9583

Friday 9th October 3:00pm(NZT)
The Australian dollar has outperformed the Canadian dollar this week and presently trades near its .9450 high. Both currencies have benefitted from firming key commodity prices although the Aussie has gained additional impetus over the CAD from improving risk sentiment and concerns shared in the market over a delay in U.S. Fed rate normalisation. This makes the current Australian yield advantage continue to look relatively attractive versus the U.S. especially in light of the less dovish RBA statement this week. AUDCAD bulls will now target resistance near .9520 with first support lying around .9360. Employment data in both Canada (today) and Australia next week will be keenly watched.
The current interbank midrate is:    AUDCAD 0.9440

The interbank range this week has been:    AUDCAD 0.9256 - 0.9453
Tuesday 6th October 2:00pm(NZT)
It has been a volatile week for this pairing with some real action seen in the wake of Friday’s US employment data. That release caused a quick drop to just below 0.6200 (above 1.6129), but it was short lived and the cross has managed to recover back toward the weeks highs in the past 12 hours. Gains in the Australian dollar have been limited to a degree by uncertainty around today’s Reserve Bank of Australia rate statement. This release will likely provide the near term direction for the pair. If the central bank fails to signal a move toward a more explicit easing bias, the AUD should find support. The Euro itself is being weighed on by expectation that the ECB will be forced to ease policy further over the coming months. That expectation should continue to see support on any dips toward 0.6200 (resistance 1.6129). Topside resistance comes in around 0.6400 (support 1.5625) and if we were to see a break above there the target would then be a test of 0.6530 (1.5314).
  Current Level Support Resistance Last week's range
AUD/EURO 0.6330 0.6200 0.6400 0.6156 - 0.6352
EURO/AUD 1.5798 1.5625 1.6129 1.5743 - 1.6243

Friday 2nd October 2:00pm(NZT)
We have seen some choppy trading in this pairing over the past week, but there has been little in the way of overall direction. The market currently trades close to the weeks low, thanks to some relative strength in the CAD on the back of better than forecast GDP data and a small improvement in oil prices. Minor support around 0.9300 is the key level to watch with the current market on a few points above there. This afternoon’s release of Australian retail sales data may well provide direction in the very near term, but tonight we also have the key US employment report to digest. Next week we get Canadian employment data along with the trade balance, Ivey PMI, building permits, and the Bank of Canada business outlook survey. In Australia the focus will turn to Tuesday’s RBA rate statement.
The current interbank midrate is:    AUDCAD 0.9320

The interbank range this week has been:    AUDCAD 0.9305 - 0.9433
Tuesday 29th Sept 3:00pm(NZT)
The Australian dollar lost significant ground to the Canadian dollar last week eventually settling in a narrow trading band between 0.9320 and 0.9380. The risks to that range are skewed to the downside with sentiment firmly working against the AUD at the moment. Locally we have Australian building approvals and retail sales data to digest over the coming days, but the market will also be paying close attention to Chinese PMI data due out on Thursday. Another soft result here will pressure the AUD further. From Canada we also have GDP data on Wednesday night which could easily impact the pair.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9335 0.9300 0.9500 0.9263 - 0.9467

Friday 25th September 2:30pm(NZT)
The Australian dollar has struggled this week weighed on by soft Chinese manufacturing PMI and an increasingly negative economic outlook. These factors have driven the cross to the Canadian dollar down from 0.9500, all the way to a low of 0.9263 last night. We have seen a bounce from those lows, thanks in part to soft Canadian retail sales data which weighed on the CAD, but the broader risks for the pair remain to the downside for now. Minor resistance around 0.9400 is likely to cap the topside heading into next week and another test of cycle lows around 0.9145 may well develop. Next week from Australia we have building approvals and retail sales data to draw focus. While from Canada we have the raw material price index and GDP data to draw focus.
The current interbank midrate is:    AUDCAD 0.9350

The interbank range this week has been:    AUDCAD 0.9263 - 0.9515
Tuesday 22nd Sept 2:30pm(NZT)
Like many Australian dollar crosses there has been little overall direction for this pair over the past week. The Australian dollar outperformed in the immediate aftermath of Friday’s Fed announcement, but the Canadian dollar has recovered in the early stages of this week, helped by stronger oil prices. 0.9400 to 0.9520 looks like a likely range for this week with the risks skewed to a break out on the topside at some stage. Retail sales data from Canada this week will draw attention, while from Australia we just have the house price index to digest.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9447 0.9400 0.9520 0.9401 - 0.9517

Friday 18th September 2:50pm(NZT)
The early part of this week saw the Australian dollar continue its recent recovery against the Canadian dollar. Gains stalled ahead of 0.9500 thanks in part to a 5% jump in oil prices that supported the CAD. We saw some choppy price action this morning in the wake of the Fed statement, but it hasn’t altered the overall picture at all. While the downside is supported by support around 0.9400, the risks remain skewed to some further appreciation, potentially toward 0.9600. Next week from Australia we have the house price index and the RBA’s financial stability review set for release. While from Canada we have wholesale sales and retail sales data along with a speech from Bank of Canada Governor Poloz to digest.
The current interbank midrate is:    AUDCAD 0.9465

The interbank range this week has been:    AUDCAD 0.9330 - 0.9516
Tuesday 15th Sept 1:30pm(NZT)
The Australian dollar has outperformed the Canadian dollar this week, breaking above resistance around 0.9400. The move above that level spurred gains to just shy of 0.9500, but it seems likely the pair has run out for steam for now. The AUD has been driven higher by better employment data and a broad improvement in iron ore prices. But with the markets attention now firmly focused on Thursday morning’s release of the US Fed’s interest rate decision, a period of consolidation seems likely. However, we can expect some real volatility in the wake of that release and it will likely dictate the near term direction for this pair. We have the RBA minutes to digest in the coming hours, but the market isn’t expecting any real surprise from them. From Canada this week we have manufacturing sales and inflation data to digest.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9480 0.9400 0.9600 0.9220 - 0.9480

Friday 11th September 2:30pm(NZT)
The Australian dollar has managed to stage a significant bounce from recent lows against the Canadian dollar over the past week. This comes despite the Bank of Canada who left interest rates unchanged at their meeting on Wednesday and were somewhat optimistic about the economy going forward. The latest leg of the rally was triggered by better than forecast Australian employment data yesterday and this has now taken the pair close to key resistance around 0.9400. That resistance should provide a tough topside barrier, and any break above there would be a bullish signal. A failure to overcome the 0.9400 area may well see the pair turn back down in an effort to find support. Next week we have the RBA minutes set for release along with a speech from Governor Stevens to digest. While from Canada we have manufacturing sales and inflation data to digest.
The current interbank midrate is:    AUDCAD 0.9355

The interbank range this week has been:    AUDCAD 0.9155 - 0.9379
Tuesday 8st Sept 4:30pm(NZT)
The Australian dollar has remained under pressure from the CAD and in the wake of Fridays US and Canadian employment data the pair traded to a low of 0.9155. We have seen a decent bounce from those lows, with the market currently trading around 0.9240, but we are far from threatening key resistance around 0.9300. Only a break above that level would suggest the immediate downside pressure has abated. From Australia this week we have business confidence, consumer sentiment, inflation expectations and employment data to digest. While from Canada we have the Bank of Canada rate statement set for release on Wednesday.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9240 0.9100 0.9300 0.9155 - 0.9391

Friday 4th September 1:00pm(NZT)
It has been largely one-way traffic for this pairing over the past week. Disappointing Australian data has weighed on the local currency, while the Canadian dollar has been supported by a bounce in oil prices and a better than forecast GDP result for June. This combination of factors has driven the AUDCAD cross to fresh cycle lows in recent days at 0.9241. The outlook remains negative and there is now solid resistance toward 0.9400 which I would expect to cap any period of strength. Tonight we have employment data from both Canada and the US to digest and this provides the immediate focus. Then from Australia next week we have business confidence, consumer sentiment, inflation expectations and employment data all set for release.
The current interbank midrate is:    AUDCAD

The interbank range this week has been:    AUDCAD 0.9241 - 0.9500
Tuesday 1st Sept 4:30pm(NZT)
The Australian dollar has lost significant ground to the Canadian dollar this past week. In the past 24 hours this has seen the pair break down below support around 0.9375 that had contained the downside for all of 2015. Weakness in the Australian dollar has been one driver, but the just as importantly has been strength in the Canadian dollar on the back of a rebound in oil prices. The break below 0.9375 is a negative signal and this keeps the focus on the downside for now. The Reserve Bank of Australia’s interest rate meeting this afternoon provides the immediate focus, then later in the week we get GDP, retail sales and the trade balance data. While from Canada we have GDP data, the trade balance, employment change and Ivey PMI.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9340 0.9200 0.9400 0.9331 - 0.9584

Friday 28th August 3:00pm(NZT)The Australian dollar has lost ground to the Canadian dollar this week. Monday night’s wild spike to the downside, triggered by wider market risk aversion, was only short lived, but even after that the pair has maintained downside bias.  Support just below 0.9400 should continue to contain the downside over the coming week, as it has done for most of 2015. Only a sustained break below that level would turn the longer term picture negative. From Australia next week we have building approvals, the RBA rate meeting, GDP, retail sales and the trade balance to digest. While from Canada we have GDP, the trade balance, employment change and Ivey PMI all set for release.
The current interbank midrate is:    AUDCAD 0.9490

The interbank range this week has been:    AUDCAD 0.9420 - 0.9669
Tuesday 25th Aug 7:30pm(NZT)
It has been a wild start to the week for all markets. Another big decline in Chinese stocks yesterday set off a chain reaction in global equities which caused momentary panic in currency markets. In US trading last night with the Dow Jones opening down 1000 points, currency markets had what can only be described as ‘a moment’. Liquidity completely dried up and panic set in for a few short minutes. Markets quickly composed themselves, but the damage had been done to the Australian dollar that was now trading lower across the board. I would look for a range of 0.9400 to 0.9700 over the coming days.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9540 0.9500 0.9750 0.9420 - 0.9669

Thursday 20th Aug 1:30pm (NZT)
Both the Australian dollar and the Canadian dollar have seen periods of pressure the week resulting in largely sideways trade. The AUD suffered at the hands of further weakness in Chinese stock and this helped drive the pair toward 0.9550. In the past 24 hours however a further decline in oil prices has weighed on the CAD and as such the cross has recovered back toward d 0.9650. The broader range of 0.9500 to 0.9750 however, remains well intact and at this stage I would expect those parameters to continue to dominate trade.
The current interbank midrate is:    AUDCAD 0.9642

The interbank range this week has been:    AUDCAD 0.9535 - 0.9678
Tuesday 18th Aug 1:30pm(NZT)
The Australian dollar saw pressure in the middle part of last week on the back of the surprise Chinese Yuan devaluation announcements. These helped to drive the pairing down towards 0.9500, but since then the AUD has staged a solid recovery. This recovery was helped by disappointing Canadian data in the form of manufacturing sales released on Friday. With the pair currently trading around 0.9650 we can expect a range this week of 0.9500 to 0.9750. The markets immediate focus is now on the Reserve Bank of Australia’s minutes set for release in the coming hours. These should confirm the bank remains very much in the neutral camp. Canadian data to watch out for this week all comes on Thursday and Friday in the form of wholesale sales, inflation and retails sales.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9655 0.9500 0.9750 0.9511 - 0.9678

Friday 14th Aug 1:00pm(NZT)
It has been a very volatile week for this pairing with some sharp moves seen in the wake of the Chinese Yuan devaluations. Along with a bounce in oil prices early in the week, this caused the pair to lose significant ground. The market eventually found support around 0.9500 and the recovery so far has been substantial. Renewed softness in oil prices over the past 48 hours has weighed on the Canadian dollar and the pair looks like a test back toward 0.9700 could develop. Levels over 0.9700 have failed to be sustained for much of the past four months however, and I would again expect the cross to struggle on any move toward 0.9750. From Australia next week the focus will be on the RBA’s minutes set for release on Tuesday. While from Canada we have wholesale sales, inflation and retail sales data to digest.
The current interbank midrate is:    AUDCAD 0.9632

The interbank range this week has been:    AUDCAD 0.9501 - 0.9747
Tuesday 11th Aug 2:30pm(NZT)
Since jumping higher this time last week in the wake of the RBA rate statement, the AUDCAD pairing has swung wildly between the broad parameters of 0.9620 and 0.9740. Commodity prices have been one driver with a bounce in oil supporting the Canadian dollar in the early stages of this week. That helped drive the pair from the top of that range to the lows in the past 24 hours. Direction from here is a tough call, but while the market holds above 0.9620 I favour a recovery back above 0.9700. A move back below 0.9600/20 however, would turn the picture negative again. Business confidence, consumer sentiment and wage price data from Australia will draw attention over the coming days. While from Canada we just have the new house price index and manufacturing sales to digest.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9630 0.9600 0.9750 0.9564 - 0.9747

Friday 7th August 11:40am (NZT)
This pair is renowned for some sharp moves and this week reiterated that reputation. The release of the better than expected Australian retail sales and trade data saw the initial resistance at .9600 blown away and the pair went on to briefly test resistance around .9750. This proved a step too far and since then the pair has seen periods of drifting with the AUD grinding lower. Certainly selling AUD around the .9750 wholesale level looks to offer value for those looking to buy Canadian dollars. The near term driver comes in the form of the important Canadian employment numbers due for release later on today. Next week the Australian consumer sentiment and wage price numbers on Wednesday will offer interest ahead of the Canadian housing data on Friday.
The current interbank midrate is:    AUDCAD 0.9629

The interbank range this week has been:    AUDCAD 0.9436 - 0.9747
Tuesday 4th Aug 1:30pm(NZT)
The Australian dollar has managed to outperform the Canadian dollar this week, thanks largely to disappointing Canada GDP for May. That data hit the wires on Friday evening and caused a sharp move from 0.9440 up to 0.9600. The pair is currently trading a little below that peak, and we have some key data out in the coming hours. Australian retail sales will be followed by the RBA rate statement this afternoon. Then later in the week Australian employment data is set to hit the wires. From Canada this week we also have employment data along with building permits and the Ivey PMI. Expect plenty of volatility over these releases, but with oil prices continuing to decline I suspect the CAD will struggle. Any dips toward 0.9400 remain a buying opportunity with the risks growing for a move toward 0.9700.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9575 0.9400 0.9600 0.9412 - 0.9603

Friday 31st July 2:00pm(NZT)
Both the Australian dollar and the Canadian dollar have been under pressure recently, but it has been the AUD that has generally under performed. This has led to repeated tests toward 0.9400, a level which has broadly contained the downside for a number of months now. While 0.9400 continues to put a floor under the pair, we are likely to see further ranging between there and 0.9650 on the topside. Key to near term direction will be the release of Canadian GDP tonight. A disappointing GDP result will see a move back toward that 0.9650 level. From Australia next week we have retail sales, the RBA rate meeting, the trade balance and employment data all set for release. While from Canada we get the trade balance, building permits, employment change and the Ivey PMI.
The current interbank midrate is:    AUDCAD 0.9486

The interbank range this week has been:    AUDCAD 0.9412 - 0.9590
Tuesday 28th July 3:00pm(NZT)
With both respective currencies seeing periods of intense pressure for much of last week, this pairing saw mostly sideways movement within a contained range through the belly of the last week. The materially better than expected Canadian retail sales data was a catalyst for a break of that contained range as the CAD saw a jump in demand following the 1.00% result. Expect the recent theme of slumping commodity demand to continue to provide the lead for both currencies in the near term and trade should be contained by the wider .9450- .9650 recent range. A speech from RBA Gov. Stevens on Thursday will be close watched, along with the following building approval and producer price releases. In Canada we look forward to the latest raw material numbers and monthly GDP data to provide the focus.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9480 0.9450 0.9650 0.9454 - 0.9635

Friday 24th July 1:30pm(NZT)
The Australian dollar has maintained a firm tone against the CAD this week without actually kicking on with gains above 0.9620. The Canadian dollar has generally underperformed ever since the Bank of Canada cut interest rates last week, and falling oil prices aren't helping. The Australian dollar too is struggling under the weight of declining commodity prices and this is why the pair is struggling to kick on above 0.9620. A range of 0.9500 to 0.9700 looks likely over the coming week. From Australia next week we have building approvals, import prices and producer prices data. While from Canada we have the raw material price index along with GDP data to digest.
The current interbank midrate is:    AUDCAD 0.9574

The interbank range this week has been:    AUDCAD 0.9527 - 0.9635
Tuesday 21th July 5:00pm(NZT)
Although both the Australian dollar and the Canadian dollar have been under pressure recently on the bank of declining commodity prices, it is the CAD that has underperformed. That underperformance has been driven by the Bank of Canada’s interest rate cut last week and it helped to drive the pair up toward 0.9600 from levels just above 0.9400 a week ago. If the cross can sustain a break above 0.9600 then a move toward 0.9700 should develop. For the time being though, levels just above 0.9600 have been a step too far for the pair. I expect a range of 0.9500 to 0.9700 over the coming week.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9582 0.9500 0.9700 0.9424 - 0.9620

Friday 17th July 1:30pm(NZT)
After testing support around 0.9400 early in the week, this pair has made a strong recovery and is now threatening resistance just above 0.9600. The key to the move has been the Bank of Canada’s decision to cut interest rates for the second time this year. That move saw the CAD come under all sorts of pressure and this helped to dive the AUD cross higher. If a sustained break above 0.9600 is seen the pair may well recover further toward 0.9700. I would now expect any potential dips toward 0.9500 to find good support. From Australia we have the minutes from the last Reserve Bank of Australia meeting to draw focus along with the latest reading on inflation. While from Canada we have inflation data tonight to draw focus then next week we get wholesale sales and retail sales data.
The current interbank midrate is:    AUDCAD 0.9615

The interbank range this week has been:    AUDCAD 0.9397 - 0.9615
Tuesday 14th July 4:00pm(NZT)
We have seen largely sideway trade for this pair over the past week between the broad parameters of 0.9400 and 0.9500. Both countries have seen better than forecast employment data and this has only reinforced the current range trading conditions. We have the Bank of Canada monetary policy statement to digest this week which should prove very interesting. If we saw some CAD weakness in the wake of that release the target would be a test of stronger resistance around 0.9600. From Australian the week we get data in the form of consumer sentiment and inflation expectations.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9459 0.9400 0.9600 0.9397 - 0.9514

Friday 10th July 3:30pm(NZT)
It has been a very choppy week for this pairing. Both currencies have seen periods of pressure and as such prices have gyrated between the broad parameters of 0.9400 and 0.9500. The Australian dollar has been weighed on by soft commodity prices and collapsing Chinese stocks. While poor Canadian data has pressured the CAD ahead of key employment numbers tonight. With Chinese stocks stabilizing somewhat in the past couple of days, and yesterday’s better than forecast Australian employment numbers, the risks a skewed toward further gains and perhaps a test of 0.9600. Level around 0.9400 should continue to provide good support on any dips. Next week from Canada we have the Bank of Canada rate meeting along with manufacturing sales data. While from Australia next week we get business confidence, consumer sentiment and inflation expectations data.
The current interbank midrate is:    AUDCAD 0.9496

The interbank range this week has been:    AUDCAD 0.9389 - 0.9593
Tuesday 7th July 2:30pm(NZT)
Although we have seen some very significant swings in this pair over recent week, there has been little in the way of overall direction. Both the Australian dollar and the Canadian dollar have seen periods of pressure and this has driven the volatility. declining commodity prices and softer than forecast economic data has weighed on each currency and for the time being we can expect more of the same. Levels toward, or under, 0.9400 look to offer short term value, while any move above 0.9600 is a selling opportunity. The RBA release their rate statement this afternoon and then later in the week we have Australian employment data. Still to come from Canada this week we have the trade balance, building permits and employment change data to digest.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9475 0.9400 0.9600 0.9389 - 0.9664

Thursday 2nd July 2:30pm(NZT)
It has been largely one way traffic for this pair this week, after an initial gap lower early on Monday morning. Since then the cross has been gaining ground as the market digests the Greek situation, the Chinese rate cut and most recently the disappointing Canadian GDP result. There has also been news about a potential $9 bln takeover bid for Australia’s Asciano from a Canadian firm. It’s far from certain if that will go ahead but if it does it will help to support cross to a degree. With resistance around 0.9600 overcome in recent days, the pair may look to try for further gains toward 0.9720. Next week from Australia we have the RBA rate statement and employment change numbers set for release. While from Canada we get Ivey PMI, the trade balance, building permits and employment change all set for release.
The current interbank midrate is:    AUDCAD 0.9615

The interbank range this week has been:    AUDCAD 0.9374 - 0.9664
Tuesday 30th June 2:00pm(NZT)
It has been a very volatile past few days for this pair as events in the wider market drive price action. The Australian dollar saw pressure late last week as Chinese stock fell in dramatic fashion and this drove the AUDCAD down toward 0.9420 heading into the weekend. The focus then shifted to Greece and the surprise referendum announcement which caused a wave of risk aversion in early trading yesterday. That drove the pair to a 0.9374 low before a substantial bounce developed. For now the risks remain to the downside and I would expect resistance around 0.9600 to cap any further strength in the pair.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9525 0.9400 0.9600 0.9374 - 0.9595

Friday 26th June 2:00pm(NZT)
The range of 0.9400 to 0.9600 has contained this pair since early June and the past week was no exception. Selling toward the top of that range is preferred as the RBA maintains a slight easing bias, while the Canadian economy is expected to recover from the poor start to the year over the coming months. The optimistic US economic outlook will also benefit the CAD. Look for that same range to dominate over the coming week when we get a speech from Governor Stevens to digest along with building approvals, trade balance and retail sales data from Australia. While from Canada we only have the raw material price index and monthly GDP figures set for release.
The current interbank midrate is:    AUDCAD 0.9536

The interbank range this week has been:    AUDCAD 0.9478 - 0.9595
Tuesday 23th June 2:30pm(NZT)
Choppy sideways price action has dominated in this pairing for just over two weeks now. Support toward 0.9400 has contained the downside while resistance around 0.9600 has never really been threatened on the topside. Some very mixed data out of Canada has certainly played a part in this sideways price action, and with little scheduled for release from either country this week we are likely in for more of the same.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9505 0.9400 0.9600 0.9433 - 0.9576

Thursday 17th June 2:00pm(NZT)
Earlier in the week the Australian dollar managed to make gains against the Canadian dollar, largely thanks to a disappointing result from Canadian manufacturing sales data. The cross traded just shy of resistance around 0.9600, but then quickly started to fall away. Last night Canada produced better than forecast wholesale sales data which supported the CAD. This drove the pair toward the lower end of the 0.9400 to 0.9600 range where is currently trades. There is nothing to suggest support around 0.9400 will break and as such I expect to see further ranging between those two levels over the coming week. Tomorrow night from Canada we get inflation and retail sales data which should provide the lead heading into next week which will be a lot quieter in terms of economic releases.
The current interbank midrate is:    AUDCAD 0.9455

The interbank range this week has been:    AUDCAD 0.9433 - 0.9594
Tuesday 16th June 2:30pm(NZT)
The Australian dollar has made some gains against the Canadian dollar this week after trading to a low of 0.9437. The recovery off those lows was helped by some disappointing Canadian manufacturing sales data released last night. That saw the pair test up toward minor resistance around 0.9600 which has so far capped the gains. I would expect to see further range trading between 0.9400 and 0.9600 over the coming week. The immediate focus is on the RBA minutes due in the next hour. Later in the week from Canada we get wholesale sales, inflation and retails sales numbers to digest.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9580 0.9400 0.9600 0.9437 - 0.9594

Friday 12th June 2:00pm(NZT)
After moving sharply lower at the end of last week on the back of strong Canadian employment data, this pair has spent the past five trading days chopping back and forth around 0.9500. A couple of tests toward support around 0.9400 haven’t had any real conviction and as such they only made it as low at 0.9437. Look for a range over the coming week of 0.9400 to 0.9600. There has been no overall direction in this pair for nearly three months now, with 0.9400 to 0.9750 containing trade over that period. At this stage it looks like we are in for more of the same over the coming weeks. From Canada next week we get manufacturing sales, wholesale sales, inflation and retails sales data. While from Australia we just have the RBA minutes Tuesday to draw focus.
The current interbank midrate is:    AUDCAD 0.9522

The interbank range this week has been:    AUDCAD 0.9437 - 0.9652
Tuesday 9th June 2:00pm(NZT)
The Australian dollar has traded in a significant range against the Canadian dollar this week, falling nearly 250 points from the 0.9715 high set last Thursday. Disappointing Australian data has combined with a much better than forecast result from Canadian employment change to dive the move. Somewhat surprisingly in the past 24 hours we have seen a decent bounce from the lows, but this has failed at the 0.9560 resistance level and as such the focus remains on the downside. A test toward 0.9400 may well develop over the coming week. Australian business confidence data will draw focus this afternoon, then later in the week we get consumer sentiment and employment change data along with a speech from Governor Stevens. While from Canada we have the new house price index and a speech from Governor Poloz to digest.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9557 0.9400 0.9600 0.9466 - 0.9715

Friday 5th June 1:00pm(NZT)
The Australian dollar surged higher against the Canadian dollar in the first half of the week. Gains were made in the wake of the RBA rate statement and then again after better than forecast GDP data was released. We have seen a sharp turnaround in the past 48 hours however, thanks to poor Australian retail sales and trade balance data which have combined with a positive Canadian Ivey PMI result. Although the pair is still higher than where it started the week, the risks are skewed toward further downside and a test of 0.9500. Key to near term direction will be tonight's Canadian employment data with the market looking for a gain in employment of 10.2k. We also get employment data from Australia next week along with business confidence, consumer sentiment and inflation expectations. From Canada next week we have building permits data, the new house price index and a speech from Governor Poloz to digest.
The current interbank midrate is:    AUDCAD 0.9603

The interbank range this week has been:    AUDCAD 0.9496 - 0.9715
Tuesday 2nd June 2:30pm(NZT)
The Australian dollar lost ground to the Canadian dollar last week, driven in large part by disappointing private capital expenditure data. The pair traded just below 0.9500 heading into the weekend and was only saved further losses by a very soft Canadian GDP result. Resistance is now seen at 0.9600 and that level should contain any periods of strength seen over the coming week. Selling into strength is recommended with the target being a test of support around 0.9400. We have the Reserve Bank of Australia rate meeting to digest this afternoon, then later in the week GDP, retails sales, and trade balance data will draw focus. While from Canada this week we have the trade balance, Ivey PMI and employment change numbers to digest.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9560 0.9400 0.9600 0.9497 - 0.9657

Friday 29th May 2:00pm(NZT)
Relatively quiet trading for this pair was interrupted yesterday by the release Australian private capital expenditure data. The very disappointing result was exactly what the Reserve Bank of Australia (RBA) did not want to see as they’re trying hard to stimulate investment from the non-mining sector. The implications of this are potentially lower growth, weaker employment and an increased likelihood of another rate cut from the RBA. This caused a collapse in the cross with the Canadian dollar from levels around 0.9640 to a low overnight of 0.9497. We could potentially see a bounce toward 0.9550, but this would provide a good selling opportunity with the longer term risks skewed to the downside and a test of key support around 0.9400. From Australia next week we have building approvals, GDP, trade balance data, and an RBA rate meeting to digest. While from Canada we get GDP data and then next week we have the trade balance, Ivey PMI and employment change.
The current interbank midrate is:    AUDCAD 0.9520

The interbank range this week has been:    AUDCAD 0.9497 - 0.9659
Tuesday 26th May 2:00pm(NZT)
The Australian dollar has lost ground to the CAD this week helped lower by better than forecast Canadian retail sales data. That data helped to drive the pair down to support around 0.9600 on Friday evening. We have seen small bounce develop from that low, but it has so far been less than convincing. The pair needs to overcome initial resistance around 0.9660 to alleviate the current downside bias. While below 0.9660 the focus remains on further tests of 0.9600. From Australia over the coming days we have private capital expenditure and construction work done data, along with a speech from RBA deputy governor Lowe. While from Canada we have the Bank of Canada rate statement, the raw material price index and monthly GDP data.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9633 0.9600 0.9740 0.9600 - 0.9722

Friday 22nd May 2:00pm(NZT)
Although we saw some relative Australian dollar strength early in the week, this pair has largely been under pressure since then as the Canadian dollar has gained on the coat tails of a broadly stronger USD. Near term direction is a tough call and will be dictated by the release of inflation data from both Canada and the US tonight. Canada also releases retail sales data this evening and then next week we have the Bank of Canada rate meeting, current account and GDP data to digest. From Australia next week we get data on construction work done along with private capital expenditure. Downside support comes in around 0.9600, while on the topside there is resistance around the 0.9740 level.
The current interbank midrate is:    AUDCAD 0.9632

The interbank range this week has been:    AUDCAD 0.9603 - 0.9732
Tuesday 19th May 1:00pm(NZT)
Despite an encouraging result from Canadian manufacturing sales on Friday, the Australian dollar continues to make gains against the CAD. The pair managed to break above 0.9620 resistance mid last week and that level now provides the first line of support. While above that level the risks are skewed to the topside and further gains are expected. The immediate focus now turns to the RBA minutes out in the next couple of hours. Later in the week from Australia we have inflation expectations and consumer sentiment data to digest. From Canada this week we have a speech from Bank of Canada Governor Poloz tonight then later in the week we get wholesale sales, retail sales, and inflation data.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9715 0.9620 0.9820 0.9542 - 0.9741

Friday 15th May 1:30pm(NZT)
Apart from a period of Australian dollar outperformance on Wednesday night, there has been little in the way of direction or action in this pair over the past week. There hasn’t been much in the way of Canadian data to drive rates so far this week, and in Australia the only notable release was the annual budget that did lend some support to the local currency. If the pair can consolidate gains above 0.9720 then a broader move toward 0.9840 could develop. If however we see repeated failures above 0.9720 then a correction lower could well see the pair back below 0.9600. Next week from Australia to drive rates we have the Monetary Policy Meeting Minutes to digest, along with consumer sentiment and inflation expectations data. Tonight from Canada we get manufacturing sales data, then next week we have a speech from BOC Governor Poloz followed by wholesale sales, inflation, and retail sales data.
The current interbank midrate is:    AUDCAD 0.9660

The interbank range this week has been:    AUDCAD 0.9524 - 0.9745
Tuesday 12th May 1:00pm(NZT)
There has been little in the way of overall direction for this pairing over the past week. A squeeze higher in the AUD in the first half of last week helped to dive the pair up to 0.9637, but since then the AUD has moderated and so has the cross to the Canadian dollar. We head into tonight’s Australian budget release with the slight downside bias still in play. If minor support around 0.9540 gives way the pair would then target the 0.9420 level. Tomorrow from Australia we get the wage price index, while from Canada this week we have the new house price index, the Bank of Canada review, and manufacturing sales data.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9552 0.9420 0.9620 0.9451 - 0.9637

Friday 8th May 1:30pm(NZT)
We have seen some volatile price action in this pair over the past week, largely driven by move in the Australian dollar. The local currency saw a sharp appreciation as the market was caught short in the wake of the RBA decision to cut interest rates. This helped to drive the pair up over 0.9600, although we have since seen some moderation. On the Canadian dollar side of the equation, we have seen improving oil prices and a big jump in the Ivey PMI support the CAD, and we now turn our attention to Canadian employment data due tonight. The market is expecting a small fall in employment of 4.5k. Next week from Australia we have NAB business confidence, the annual budget release, home loans and the wage price index. While from Canada we only have manufacturing sales data of any note.
The current interbank midrate is:    AUDCAD 0.9553

The interbank range this week has been:    AUDCAD 0.9451 - 0.9637
Tuesday 5th May 2:00pm(NZT)
Ever since peaking at 0.9663 mid-last week, this pair has been under pressure with increasing expectations for an interest rate cut from the RBA weighing on the AUD. The Canadian dollar has also gained ground after a better than expected GDP result and further increase in the price of crude oil. These factors have driven the pair back below 0.9500 where it currently trades. Near term direction will now be in the hands of the RBA who release their interest rate decision in a few hours. If they do cut rates the AUDCAD cross will likely trade down to support around 0.9400. If the central bank leaves rates unchanged the AUD will see a sharp appreciation. Volatility is likely to remain high all week with a number of other key releases set for the coming days. Australian retail sale and employment change figures will draw focus later in the week, as will Canadian trade balance, Ivey PMI, building permits and employment data
  Current Level Support Resistance Last week's range
AUD/CAD 0.9485 0.9400 0.9600 0.9471 - 0.9663

Friday 1st May 2:45pm(NZT)
Early Australian dollar outperformance of the CAD this week was quickly reversed yesterday and the pair is now close to where it started the week. The swing in fortunes of the AUD has been on the back of expectations around a potential rate cut from the RBA when they meet next week. We can expect just as much volatility on the back of the actual central bank decision as it’s a very close call just what the RBA will do. Expect support around 0.9500 to contain the downside ahead of Tuesday afternoons outcome, but after that the pair could be anywhere from 0.9400 to 0.9700. We have a speech from Bank of Canada Governor Poloz to digest tonight, then next week we get the Canadian trade balance, Ivey PMI, building permits and employment data.
The current interbank midrate is:    AUDCAD 0.9535

The interbank range this week has been:    AUDCAD 0.9430 - 0.9663
Tuesday 28th Apr 3:30pm(NZT)
This pairing has traded a relatively tight and unsurprising trading range over the last week. The support at .9400 contained any periods of AUD vulnerability and the initial resistance at .9550 has curbed the two periods of strength over the past week. The Australian inflation numbers did provide some AUD appreciation, and the pairing has meandered with sideways price action since. Overall we can expect the wider range of .9400 - .9600 to likely contain the price action this week, barring any surprises from the BOC speeches and Canadian GDP numbers.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9520 0.9400 0.9600 0.9422 - 0.9543

Friday 24th Apr 2:00pm(NZT)
The past two weeks has seen choppy trading for this pairing between the parameters of 0.9400 and 0.9600. The lows of this week traded in the wake of comments from RBA Governor Stevens. He did his best to talk the Australian dollar down, but his efforts were undone by a stronger than expected Australian inflation result and the cross quickly rebounded. The Canadian dollar itself was boosted by an upbeat speech from Bank of Canada’s Poloz who hinted they won’t be cutting again. A rebound in oil prices is also helped increase the CAD demand. There is big support for the pair around 0.9400 and I suspect that level will put a floor under any near term AUD weakness in the pair. Any sustained break below 0.9400 would be a negative signal. The favoured scenario is for further ranging between 0.9400 and 0.9600.
The current interbank midrate is:    AUDCAD 0.9445

The interbank range this week has been:    AUDCAD 0.9413 - 0.9591
Tuesday 21st Apr 3:30pm(NZT)
The past week has seen some very choppy trading in this pairing. A number of significant swings between 0.9420 and 0.9560 have ensued driven by data flow and central bank releases. The pair is currently at the lower end of that range and a test of the 2014 low of 0.9387 may well develop. There certainly seems potential for the Canadian dollar to see further appreciation thanks to improving data, a positive central bank outlook and something of a recovery in oil prices. On the AUD side of the equation the RBA are still trying to talk the currency down and comments last night from Governor Stevens managed to illicit a reasonable response. We do have Australian inflation data tomorrow to digest, along with Canadian wholesale sale and the annual budget release. The week is rounded out with a speech from Bank of Canada Governor Poloz on Friday.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9430 0.9400 0.9600 0.9413 - 0.9591

Friday 17th Apr 1:00pm(NZT)
The Canadian dollar has managed to outperform the Australian dollar this week, although it hasn’t been all one way. The Bank of Canada struck a surprisingly optimistic tone with the release of the monetary policy statement on Wednesday and this combined with a rebound in oil prices has lent real support to the CAD. The Australian dollar has also seen its share of supportive releases with yesterday’s employment data providing a significant boost. In the space of 12 hours around these releases the AUDCAD cross traded from 0.9570 down to 0.9420 then back up to 0.9468. This pair can be wild at times and it certainly lived up to its reputation this week. The fun may not be over yet either, with Canadian data tonight in the form of inflation and retail sales set for release. Next week from Canada we only have a speech from Governor Poloz and wholesale sales set for release, while from Australia we have the minutes from the last RBA meeting along with the latest reading of inflation. Expect further volatility between 0.9400 and 0.9600 over the coming week.
The current interbank midrate is:     AUDCAD 0.9495

The interbank range this week has been:     AUDCAD 0.9418 - 0.9713
Tuesday 14th Apr 2:30pm(NZT)
This pair rallied strongly in the wake of last Tuesday’s RBA decision to leave rates unchanged, trading up just over 0.9700. A sharp turnaround ensued on Friday evening however, triggered by the release of better than expected Canadian employment data which boosted demand for the CAD. The pair then lost further ground yesterday in the wake of poor Chinese trade balance data, which weighed heavily on the Australian dollar. We can expect further volatility this week with a number of key releases from both countries. From Australia we have employment data on Thursday to digest, while from Canada we get manufacturing sales, inflation, retail sales and the Bank of Canada monetary policy report.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9577 0.9500 0.9700 0.9458 - 0.9713

Friday 10th Apr 1:45pm(NZT)
After declining throughout last week this pair turned around sharply on Tuesday after the Reserve Bank of Australia decided to keep interest rates unchanged. That decision triggered a wave of AUD buying which lifted the cross off its 0.9458 low. Since then much of the gains have come on the back of Canadian dollar weakness. The CAD has struggled on the back of soft economic data which is largely a result of the rapid decline in oil prices. This week saw another business activity indicator (Ivey PMI) decline along with further evidence of weakness in the Canadian housing market. At this stage it’s hard to see what will turn the economic outlook around for Canada and as such we may well see further CAD weakness in the near term. Certainly there is no indication that the recent rally is running out of steam and this keeps the focus on the topside for now. Only a break below initial support at 0.9675 would bring that outlook into question.
The current interbank midrate is:    AUDCAD 0.9612

The interbank range this week has been:    AUDCAD 0.9458 - 0.9705
Tuesday 31st Mar 2:30pm(NZT)
This last week has seen the Canadian dollar put pressure on the beleaguered AUD. In the absence of any material economic news, the heavy commodity markets combined with lowering Chinese growth prospects to undermine support for the Australian dollar. The pair is now back toward the middle of the 0.9600 to 0.9900 range that has contained trading since the beginning of February. Expect the coming week to see a continuation of choppy trading within that range. Canadian GDP and the trade balance proved the focus from Canada over the coming days. While from Australia we also get the trade balance along with building consents.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9613 0.9600 0.9900 0.9677 - 0.9879

Friday 27th Mar 1:30pm(NZT)
In the absence in any material economic news of impact in either economy, its has proven to be a week of two halves for this pair. Initial AUD demand drove the pair up to resistance at .9880. This level managed to cap the AUD appreciation on three occasions before the CAD demand picked up and pushed the pair back down towards initial support at .9750. The increased CAD demand was assisted by resurgence in the fortunate of the USD. With mainly second tier economic news in both economies next week, there is potential for the .9680-.9880 range to once again contain the week’s trade.
The current interbank midrate is:    AUDCAD 0.9770

The interbank range this week has been:    AUDCAD 0.9720 - 0.9879
Tuesday 24th Mar 12:30pm(NZT)
The Australian dollar has made good gains against the Canadian dollar in the wake of Thursday’s FOMC rate statement. That statement saw increased pressure on the USD and this also weighed on the CAD. Add to that a raft of softer than forecast Canadian economic releases and a somewhat buoyant Australian dollar, and the cross rate has shot higher. There is no indication the move has run its course and we could easily see an extension toward 0.9950 over the coming week. The RBA’s Assistant Governor Edey is due to speak later this afternoon and tomorrow we have the RBA’s Financial Stability Review. While from Canada this week we only have a speech by Governor Poloz and the annual budget release to draw focus, so volatility in the wider market will continue to play a large part in driving price action.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9870 0.9750 0.9950 0.9698 - 0.9873

Thursday 19th Mar 2:45pm(NZT)
This pairing has traded a contained range this week. The lower oil pricing saw the CAD underperform through the belly of the week, but the CAD weakness lacked any momentum to make the move continue. With the RBA minutes of limited impact the economic data focus has moved towards the Canadian inflation and retail sales numbers due for release later on today. Expect the 96.50 -98.50 current range to contain the price action in the coming week in the absence of any material economic data of note in either economy. Of influence will continue to be the relative performances to the pressured US dollar. A resumption of material pressure on the US dollar may see the Australian dollar outperform in the short term.
The current interbank midrate is:    AUDCAD 0.9757

The interbank range this week has been:    AUDCAD 0.9667 - 0.9808
Tuesday 17th Mar 3:00pm(NZT)
The Australian dollar remains trapped between the broad parameters of 0.9650 and 0.9850 to the Canadian dollar. Some recent pressure on the Canadian dollar, thanks in part to further declines in oil prices, has seen the pair trade toward the upper end of that range. But in the near term we have the Reserve Bank of Australia minutes to digest and these could weigh on the AUD. The market is expecting this to confirm the bank remains on course to cut rates again over the coming months. So for the time being we can expect a continuation of the current range. We do however have some key releases to digest from Canada this week. Manufacturing sales, wholesale sales, inflation, and retail sales are all set to hit the wires and these will likely add to recent volatility.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9762 0.9650 0.9850 0.9632 - 0.9806

Friday 13th Mar 12:30pm(NZT)
After seeing pressure from the Canadian dollar throughout most of the past week, the Australian dollar has staged something of a dramatic comeback. Short covering (buying back sold positions) started the move after yesterday’s Australian employment data came in a touch better than forecast, but the gains accelerated last night in the wake of soft US retail sales data. The strength of the move suggests we could see further appreciation in the near term, although that may well depend on the outcome of tonight’s Canadian employment data. This will be followed next week by Canadian manufacturing sales, wholesale sale, inflation, and retails sales data. While from Australia we only have new vehicle sales, the RBA minutes, and the leading index to digest.
The current interbank midrate is:    AUDCAD 0.9775

The interbank range this week has been:    AUDCAD 0.9632 - 0.9789
Tuesday 10th Mar 2:30pm(NZT)
The Australian dollar has maintained a very slight downside bias to the Canadian dollar over the past week. We have seen some choppy trading conditions with both central banks deciding not to cut rates again at this stage, and key US employment data adding to the volatility. The pair looks like a test toward support around 0.9650, and potentially even 0.9600, may be on the cards in the coming days. Topside resistance around 0.9850 is certainly not looking like it will be threatened in the near term. There will also be plenty of data to dive the pair later in the week, with employment data from both countries set for release on Thursday and Friday.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9690 0.9650 0.9850 0.9684 - 0.9831

Friday 6th Mar 2:00pm(NZT)
We have seen some choppy price action for this pair, but overall the Australian dollar has lost ground to the Canadian dollar this week. We have seen sharp moves on the back of the ‘no change’ decisions from both the Reserve Bank of Australia and the Bank of Canada in recent days, but Canada has also seen better than forecast GDP data. Australia on the other hand produced GDP figures a touch under expectation and that probably accounts for the small depreciation the AUD has seen relative to the CAD this week. The broad range of 0.9650 to 0.9850 is likely to contain trading over the coming week. Tonight’s US employment data will no doubt add to the recent volatility, then next week from Australia we get business confidence, consumer sentiment, inflation expectations and employment change data. While from Canada we get building permits and trade balance data tonight, then next week we have the new house price index and employment change figures.
The current interbank midrate is:    AUDCAD 0.9716

The interbank range this week has been:    AUDCAD 0.9684 - 0.9831
Tuesday 3rd Mar 2:30pm(NZT)
We have interest rate decisions from both the Reserve Bank of Australia and the Bank of Canada this week and as such, there is potential for some wild moves in this pairing. Although both decisions are a close call, there has been a subtle shift toward a slightly greater chance of an cut from the RBA, and a less chance of one from the BOC. As such the AUDCAD cross has lost a little ground over the past few days after peaking at 0.9858 this time last week. Key support on the down side comes in around 0.9600 and this will be the target should the RBA cut interest rates this afternoon. Gains on any topside move will run into resistance toward 0.9950 and selling ahead of that level is recommended should the market attempt such a rally.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9730 0.9600 0.9950 0.9707 - 0.9858

Friday 27th Feb 1:00pm(NZT)
The past week has seen choppy trading conditions in this pair. Overall the Australian dollar has lost a little ground to its Canadian counterpart. A speech from Bank of Canada (BOC) Governor Poloz gave the Canadian dollar a little boost as he didn’t sound in a hurry to cut rates again. While in Australia the local currency saw some pressure in the wake of yesterday’s soft private capital expenditure data. Tonight from Canada we get inflation data and next week we have a slew of releases, including GDP, the BOC rate meeting, Ivey PMI, building permits and the trade balance. From Australia next week we have the RBA rate decision, GDP, retail sales, and the trade balance to digest. With all these key releases due to hit the wires next week we could see some very volatile trading. Support on the downside comes in around 0.9600, while gains over 0.9900 have failed to be maintained for any length of time so far in 2015.
The current interbank midrate is:    AUDCAD 0.9765

The interbank range this week has been:    AUDCAD 0.9725 - 0.9858
Tuesday 24th Feb 2:30pm(NZT)
The Australian dollar has made gains against the Canadian dollar this week. Mixed data from Canada has only served to reinforce expectations that we will see another interest rate cut from the Bank of Canada when they meet in March. This is keeping pressure on the Canadian dollar and it is unlikely a speech from Governor Poloz tomorrow or inflation data on Friday will alter that. From Australia this week we have private capital expenditure data due out on Thursday and this will be the main focus domestically. Support around 0.9700 should contain any near term weakness with the risks skewed toward an eventual test back up over 0.9900.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9810 0.9700 0.9900 0.9664 - 0.9846

Thursday 19th Feb 2:30pm(NZT)
The Australian dollar has maintained a tight trading range to the Canadian dollar over the course of this week seemingly comfortable around the 0.9700 level. The RBA minutes conveyed less urgency in cutting rates than the market had believed, and this has help support the Australian dollar a touch. From Canada we have also had positive data with wholesale sales numbers much better than forecast. As a result of these releases we are likely to see further ranging between the broad parameters of 0.9600 and 0.9800 over the coming week. From Australia we have private capital expenditure data to draw focus, while from Canada next week we only have inflation data set for release on Friday.
The current interbank midrate is:    AUDCAD 0.9727

The interbank range this week has been:    AUDCAD 0.9596 - 0.9754
Tuesday 17th Feb 3:30pm(NZT)
We have seen little in the way of direction for this pair since the sharp losses suffered after Thursday’s soft Australian employment data. There is support around 0.9600 while resistance on the topside comes in at 0.9800. Expect those two levels to contain trade over the coming week. With little set for release from Australia this week, focus now turns to Canadian economic data in the form of wholesale sales and retail sales.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9700 0.9600 0.9800 0.9596 - 0.9803

Friday 13th Feb 2:30pm(NZT)
The Australian dollar spent much of this week trading in a quiet range between 0.9700 and 0.9800 to the Canadian dollar. Things quickly changed in the wake of yesterday’s soft Australian employment data with the pair briefly trading below 0.9600. We have seen a good recovery off that low with the cross now back testing 0.9700. Dips toward 0.9600 look we support for the time being and a period of further ranging between that level and 0.9800 seems likely in the near term. From Australia next week we have the minutes from the latest RBA meeting to digest. While from Canada we get manufacturing sales data tonight, then next week we have wholesale sales, and retail sales figures to digest.
The current interbank midrate is:    AUDCAD 0.9685

The interbank range this week has been:    AUDCAD 0.9596 - 0.9803
Monday 9th Feb 4:00pm(NZT)
With both the Australian dollar and the Canadian dollar seeing periods of pressure over the past few weeks, trading in this pair has been a volatile affair. The RBA’s decision last week to match the Bank of Canada’s recent rate cut saw the cross trade to just under 0.9600. The Australian dollar managed to recover from those lows and trade up toward 0.9800 before Friday’s better than forecast Canadian employment data boosted demand for the CAD. A range of 0.9600 to 0.9800 may well contain trading this week with the focus now on a number of local releases. We have a speech from RBA Governor Stevens today followed over the coming days by business confidence, consumer sentiment, inflation expectations and employment change. While from Canada we have the new house price index and manufacturing sales data, both due out toward the end of the week.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9730 0.9600 0.9800 0.9592 - 0.9963

Thursday 5th Feb 2:30pm(NZT)
We have seen some choppy trading in the pair over the past week with the dominant price action coming in the wake of the RBA decision to cut interest rates. That caused the Australian dollar to come under heavy selling pressure and this saw the cross to the CAD briefly trade below 0.9600. Something of a recovery has developed since then, helped by poor Ivey PMI data from Canada and some concerning figures on house sales. The coming week is likely to see further volatile trading between the broad parameters of 0.9600 and 0.9900. Still to come this week from Canada we have the trade balance, building permits and employment change data to digest.
The current interbank midrate is:    AUDCAD 0.9748

The interbank range this week has been:    AUDCAD 0.9592 - 0.9963
Tuesday 3rd Feb 4:00pm(NZT)
Both the Australian dollar and the Canadian dollar have seen periods of pressure over the past week and this has seen the cross gyrate between 0.9750 and 0.9950. Declining commodity prices are weighing on both currencies with the CAD seeing extra pressure late last week after disappointing GDP data hit the wires. Direction from here however will be determined by the outcome of today’s RBA rate meeting. There is plenty of talk about an interest rate cut and this would see the AUD under further pressure. The cross would likely trade down through 0.9750 in very short space of time. If however the RBA don’t cut, and maintain their current neutral bias, the AUD could stage a significant rally. At test toward 0.9900 would likely ensure under that scenario. Later in the week from Australia we also get retails sales data to digest, while from Canada we have Ivey PMI, the trade balance, building permits and employment change data.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9825 0.9750 0.9950 0.9752 - 0.9963

Friday 30th Jan 2:00pm(NZT)
Commodity currencies in general have been under the pump lately and as such both the Australian dollar and the Canadian dollar have seen periods of pressure. This has resulted in some choppy price action over the past week. Overall it is the AUD that has underperformed, weighed on by the risk of a rate cut from the RBA Tuesday. That event will be the key focus for the market next week, although we do also have a number of Canadian data releases including employment change. The AUDCAD cross is now trading significantly below the level it was before the Bank of Canada surprised everyone with a rate cut. There is some support around 0.9750 and then again at 0.9700. One of those two levels should provide a floor at least in the near term.
The current interbank midrate is:    AUDCAD 0.9814

The interbank range this week has been:    AUDCAD 0.9752 - 0.9963
Tuesday 27th Jan 4:30pm(NZT)
The past week has seen a very health range in this pair with the post Bank of Canada high of 1.0060 then giving way to a steady decline to a low of 0.9776. The size of the decline is somewhat surprising and the low was well below the level the pair was trading at just before the BOC announcement. Much of the decline was due to Australian dollar weakness that came on the back of a continued decline in iron ore prices. However, in the past 48 hours we have seen a substantial recovery back to the 0.9900 level where it currently trades. Direction from here is a touch call although I favour a move back up toward 1.0000 over another test below 0.9800. Australian inflation data tomorrow will be closely watched then on Friday we get producer prices. The only data from Canada this week is GDP on Friday, but as it’s a monthly number its impact will be muted.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9890 0.9800 1.0050 0.9776 - 1.0060

Friday 23th Jan 2:00pm(NZT)
The Australian dollar has made gains against the Canadian dollar this week driven largely by the surprise cut on Thursday morning from the Bank of Canada. Almost no one was expecting the BOC to cut rates so when they did the reaction was swift. The AUDCAD cross jumped from just above 0.9900 to a high of 1.0060. Since then we have seen the pair retrace all those gains to now trade back just above 0.9900. I expect 0.9900 to provide some reasonable support and the pair to eventually turn back to the topside. Tonight from Canada we get the latest readings on inflation and retail sales which will both be closely watched. While from Australia next week we get business confidence, inflation, and producer prices data.
The current interbank midrate is:    AUDCAD 0.9947

The interbank range this week has been:    AUDCAD 0.9776 - 1.0060
Tuesday 20th Jan 3:30pm(NZT)
The past few weeks has seen the Canadian dollar under all sorts of pressure thanks to continued weakness in oil prices, and rash of softer than expected data. These factors helped to drive the AUDCAD cross close to 0.9900 before it ran out of steam. The resulting pullback has only made it to just under 0.9800 however, and this keeps the risk of further gains very real. Key support comes in around 0.9700 and it would take a move below there to turn the near term outlook negative. Canada has a big week for data this week with manufacturing sales, wholesale sales, the Bank of Canada rate statement, inflation and retails sales are all set for release. While from Australia we have consumer sentiment and inflation expectations to draw focus.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9795 0.9700 0.9900 0.9681 - 0.9886

Friday 19th Dec 1:00pm(NZT)
The past week has seen some choppy sideways trading for this pair with both currencies seeing periods of weakness. Continued volatility in commodity prices and a fall in Chinese factory activity have weighed on the AUD, while the CAD has suffered at the hands of soft crude oil prices. There is plenty of potential for further choppy price action with the thin market liquidity of the holiday period now upon us. There is some support for the pair around 0.9400 and this might contain any near term weakness. Topside resistance comes in around 0.9700 and those two levels may well contain trading over the coming weeks. Tonight from Canada we get inflation and retail sales data and next week we have GDP numbers to digest.
The current interbank midrate is:    AUDCAD 0.9460

The interbank range this week has been:    AUDCAD 0.9448 - 0.9640
Tuesday 16th Dec 4:00pm(NZT)
Both the Australian dollar and the Canadian dollar have been under pressure this past week and as such the cross rate has remained largely range bound. Declining oil prices have weighed on the CAD while the AUD too has suffered at the hands of falling commodities. The pair has struggled to maintain levels toward 0.9600 and while below there the risks are skewed to a pullback toward the 0.9500 level. There is talk of some possible M&A activity which could support the CAD over the coming days and this would certainly fit within that broader range trading picture. There is now no data of significance released in Australia until next year. While from Canada we still have a number of key releases to come with manufacturing sales, wholesale sales, inflation and retails sales all set to hit the wires ahead of the weekend.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9580 0.9400 0.9600 0.9456 - 0.9594

Thursday 4th Dec 3:30pm(NZT)
This pair may finally looked to have established a bottom of the range this week, with the 94.50 area twice providing some good support as the AUD saw some increased pressure . Today’s better than expected Australian employment numbers saw the pair break through the initial resistance at .9550, albeit consolidation above this level is not confirmed as yet. Next week in Australia on Tuesday the latest monetary policy meeting minutes will be released, and these come ahead of mid-year economic and fiscal update due for release Thursday. In Canada we have manufacturing, wholesale sales, inflation and retail sales data to digest.
The current interbank midrate is:    AUDCAD 0.9564

The interbank range this week has been:    AUDCAD 0.9456 - 0.9573
Tuesday 9th Dec 3:30pm(NZT)
The Australian dollar has been outperformed by the Canadian dollar this past week and this has driven the cross down to fresh cycle lows of 0.9462. Poor Australian GDP and a slightly more ‘hawkish’ tone from the Bank of Canada last week have been key influences on the pair and there is little sign that the downside has run its course. The pair could easily target support around the 0.9400 level in the near term. From Canada this week we have a speech from Governor Poloz on Thursday which will be followed by New House Price Index and capacity utilization data on Friday. While from Australia we have consumer confidence and employment data set for release.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9485 0.9400 0.9600 0.9462 - 0.9678

Thursday 4th Dec 3:30pm(NZT)
The Canadian dollar has outperformed the AUD this week. It has been a classic case of lower highs and lower lows for the pair. Not even todays healthier than expected retail sales and trade balance numbers were enough to materially boost the AUD. Focus from here is the remaining Canadian data for the week in the form of the manufacturing and employment numbers. With the pair now at levels not seen since the start of 2014, further downside pressure on the AUD looks likely without a material change in the outlook. Initial support comes in around .9500 with more robust support looking to be established around the .9400 level.
The current interbank midrate is:    AUDCAD 0.9548

The interbank range this week has been:    AUDCAD 0.9539 - 0.9742
Tuesday 2nd Dec 1:30pm(NZT)
The Australian dollar and the Canadian dollar have both struggled over the past week on the back of declining commodity prices. Both currencies have seen periods of pressure, but it is the AUD that has underperformed and this caused the cross to trade to fresh cycle lows at 0.9568. The risks are skewed to the downside as the Canadian dollar has seen increased demand in the last 24 hours on the back of a bounce in the price of oil. Recent data from Canada has also been stronger than expected and if this continues with the key releases out later in the week the CAD could see some real appreciation. From Australia today we have building approvals and the RBA rate statement to digest, then later in the week we get GDP and retail sales data.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9603 0.9550 0.9750 0.9568 - 0.9742

Friday 28th Nov 1:00pm(NZT)
The Australian dollar lost significant ground to the Canadian dollar in the early part of this week. The pair traded to a fresh cycle low of 0.9568 before staging a recovery back toward 0.9700. The drop was driven by weakness in the Australian dollar along with increased demand for CAD’s after better than forecast Canadian retails sales numbers. However, this CAD demand has been undermined by further declines in oil prices and this has helped drive the recovery in the pair. Having said that, the risks remain skewed to the downside and further tests under 0.9600 are expected. That outlook would change if the pair manages to recover back above 0.9700, but at this stage that looks unlikely. From Australia next week there is plenty to digest with GDP, the RBA rate meeting, building approvals, retails sales and the trade balance all set for release. While from Canada we have the Bank of Canada rate statement, Ivey PMI, employment change and the trade balance all set for release.
The current interbank midrate is:    AUDCAD 0.9670

The interbank range this week has been:    AUDCAD 0.9568 - 0.9842
Tuesday 25th Nov 3:30pm(NZT)
The Canadian dollar continues to stage something of a recovery against the Australian dollar after peaking above 0.9900 just over a week ago. Better than forecast data out of Canada has driven the move, along with a decline in the AUD thanks in part to news of BHP Billiton’s plan to slash spending. The risks remain skewed to the downside with the pair currently trading just above recent cycle lows of 0.9679. A break below that level would open the way from a move to 0.9600 and possibly even 0.9400. Tomorrow from Australia we get data on construction work done data and on Thursday we have private capital expenditure figures to digest. While from Canada get data this week in the form of retail sales and GDP, along with the current account and raw materials price index.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9710 0.9680 0.9900 0.9695 - 0.9880

Friday 21st Nov 1:30pm(NZT)
It has been largely one-way traffic for this pair over the course of the week with the cross losing significant ground. Two factors have driven the move. Firstly the Australian dollar has been weighed on this week by a speech from RBA Governor Stevens that suggested monetary policy could be on hold of a very long time due to the subdued nature of wage and jobs growth. And secondly we have seen supportive data from Canada in the form of much better than expected wholesale sales. We could easily see the pair trade down toward 0.9700 where it should start to find support. We have inflation data out of Canada tonight which will be closely watched and next week we get retail sales and GDP numbers. While from Australia next week we have private capital expenditure data and the Treasuries mid-year fiscal outlook to digest.
The current interbank midrate is:    AUDCAD 0.9760

The interbank range this week has been:    AUDCAD 0.9729 - 0.9929
Tuesday 18th Nov 3:00pm(NZT)
The Australian dollar traded up over 0.9900 to the CAD toward the end of last week. It was however short lived and we saw a quick pullback to 0.8830 after better than forecast Canadian manufacturing sales data was released. The pair now trades back toward the middle of the 0.9750 to 0.9950 range that is expect to dominate for the rest of this week. With only a speech from RBA Governor Stevens to digest from Australia the focus will turn to Canadian data on Friday in the form of wholesale sales and inflation.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9842 0.9750 0.9950 0.9793 - 0.9929

Friday 14th Nov 1:30pm(NZT)
Some relative strength in the Australian dollar has seen this pair recover from the 0.9760 area where is started the week. The AUD has been supported by solid business conditions data and news of a free trade deal with China. The Canadian dollar has also had some good news in the form of the announcement about the Keystone XL pipeline and this should help support the CAD to a degree. Further gains in the pair can’t be ruled out, although there is plenty of resistance around 0.9950 which will likely cap it in the near term. The focus in Australia now turns to the RBA's minutes set for release on Tuesday, just ahead of the Treasuries mid-year economic and fiscal outlook. From Canada tonight we have manufacturing sales which will be closely watched and next week we get wholesale sales and inflation data.
The current interbank midrate is:    AUDCAD 0.9910

The interbank range this week has been:    AUDCAD 0.9755 - 0.9921
Tuesday 11th Nov 2:00pm(NZT)
After seeing some initial pressure from the Australian dollar in the early stages of last week, this pair quickly turned around with the Canadian dollar dramatically outperforming the AUD. The CAD was helped by a strong USD as well as a raft of better than expected data releases. The most recent of which was Friday’s strong employment result. This helped to drive the pair to the week’s low of 0.9755, although we have seen a small recovery off there so far. To be fair, we have seen very little overall direction for the past seven weeks with the pair largely contained between 0.9700 and 0.9950. Further choppy price action within that range is expected over the coming week. Still to come this week from Australia we have business confidence, consumer sentiment, the wage price index and inflation expectations. While from Canada we only have the new house price index and manufacturing sales to draw attention.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9808 0.9750 0.9950 0.9755 - 0.9986

Friday 7th Nov 1:30pm(NZT)
It has been an interesting and volatile week for this pair, with the Australian dollar seeing increased demand initially, and making up some solid ground against the CAD. However, this was not to last as the Australian dollar came under intense selling pressure against the USD, and this spilled over to against the closely aligned CAD. The pronounced move can be put down to a large AUD sell order, possibly magnified by low levels of liquidity. Since then the price action has been more measured with a lack of direction evident as the pair hovers just above somewhat crucial support at .9750. The lead from here will be provided initially by the US and Canadian employment numbers due later on today. With mostly second tier economic news in both economies next week, the primary focuses are provided in the form of Australian business confidence data on Tuesday, and the Canadian manufacturing numbers on Friday.
The current interbank midrate is:    AUDCAD 0.9780

The interbank range this week has been:    AUDCAD 0.9757 - 0.9986
Tuesday 4th Nov 2:30pm(NZT)
The past three weeks has seen price action in this pair largely range bound between the parameters of 0.9800 and 0.9950. The lower end of that range was tested in the wake of Thursday’s Fed rate statement, but a quick recovery ensued. The pair then traded toward the top of the range in Friday evening after disappointing Canadian GDP data hit the wires. In the early stages of this week the pair has turned back down thanks to weakness in the Australian dollar after disappointing Chinese manufacturing data and poor Australian building consents figures. Direction from here will largely depend of the outcome of key data set for release this week. From Australia remaining in the calendar today we the RBA rate statement. Then on Thursday we have employment change data to digest. While from Canada we get the trade balance, building permits, Ivey PMI and employment change. Selling into strength remains the favoured strategy for an eventual test back down toward 0.9700.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9860 0.9750 0.9950 0.9809 - 0.9954

Thursday 30th Oct 3:30PM (NZT)
This pair was trading relatively quietly around 0.9900 until early this morning when we saw a sharp depreciation of the Australian dollar against the CAD. The trigger for the move was a somewhat more positive tone from the US Federal Reserve in their rate statement released early this morning. The USD rallied strongly and this also supported the CAD to a large degree. The pair has fallen close to one cent since early this morning and the risks remain skewed to the downside. Recent cycle lows just below 0.9700 could be a target over the coming week, however there is a lot to digest in terms of economic releases from both countries. From Australia we have building approvals, retail sales, the trade balance and employment change all set for release along with the latest Reserve Bank of Australia rate statement. While from Canada we get GDP data tomorrow and next week we have the trade balance, building permits, Ivey PMI and employment change data.
The current interbank midrate is:    AUDCAD 0.9815

The interbank range this week has been:    AUDCAD 0.9795 - 0.9954
Tuesday 28th Oct 2:30pm(NZT)
This pairing has traded a relatively contained range throughout the course of the last week. Look for the resistance at .9950 to contain further AUD demand in the short term. With the limited economic news in both economies this week, the focus comes in the form of the Australian producer price index on Friday. This number comes ahead of the monthly Canadian GDP data, which is expected to be flat (0.0) for the month. If the equity markets see increased pressure, expect the AUD to underperform. Any selling on AUD and buying of CAD over the .9000 level will likely prove to have offered good value overtime.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9908 0.9750 0.9950 0.9795 - 0.9947

Thursday 23th Oct 3:30PM (NZT)
We have seen some choppy moves in this pair over the past week, but the net result is the cross is currently trading close to where it was this time last week. The Canadian dollar saw some pressure when headline retail sales data printed much worse than expected at -0.3% and this drove the pair to its 0.9947 high. But the CAD quickly recovered as the detail of the report took much of the sting out of the headline number. That CAD gained again last night after the BOC dropped the “neutral” terminology from its rate statement, even though this doesn't actually signal a change in policy stance. Australian data this week hasn’t had much impact on the local currency with the RBA minutes very much as expected and inflation just a touch stronger than forecast.  The 0.9950 level should continue to cap any periods of AUD strength and selling ahead of there is recommended for those looking to purchase Canadian dollars. Next week we get the Australian Treasury’s mid-year economic and fiscal outlook, along with import prices and producer prices. While from Canada the economic calendar is looking very light with just the raw materials price index and GDP set for release.
The current interbank midrate is:    AUDCAD 0.9860

The interbank range this week has been:    AUDCAD 0.9829 - 0.9947
Monday 20th Oct 3:30PM (NZT)
The Australian dollar saw sharp appreciation over the CAD through to the middle of last week. The increased volatility and pressure on the US dollar eased the way for the move. The resistance at 99.50 curbed the move and once the wider market volatility abated, the pair settled down into much more orderly price action. The Australian dollar has seen a positive spill over to start this week with the news of added liquidity from the PBOC to 20 of the nation’s largest banks. Both economies have some substantial economic news this week. The RBA meeting minutes tomorrow come ahead of the 3rd quarter inflation numbers on Wednesday. The NAB quarterly Business Confidence Survey on Thursday will also be closely watched. In Canada the Wholesale Sales data on Monday comes ahead of the Retails Sales numbers and BOC monetary policy statement on Thursday. No change is expected, but as usual the statement will be closely watched.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9890 0.9750 0.9950 0.9761 - 0.9958

Friday 17th Oct 2:30PM (NZT)
The Canadian dollar has struggled this week pressured by declining oil prices and weaker than forecast manufacturing sales data. Add to this the relative outperformance of the Australian dollar during Wednesday’s night’s financial market volatility and the cross has made solid gains. The pair rallied as high as 0.9958 before running out of steam and we have since seen a correction back to 0.9850. The risks are however, still skewed to the topside and another test of 0.9950 could well eventuate. Next week from Australia we get the minutes from the last RBA meeting, inflation data, and the Treasury’s mid-year economic and fiscal outlook. While from Canada we have wholesale sales, retail sales and the Bank of Canada rate statement set for release.
The current interbank midrate is:    AUDCAD 0.9877

The interbank range this week has been:    AUDCAD 0.9688 - 0.9958
Tuesday 14th Oct 2:30PM (NZT)
Canada released some very supportive data last week, the highlight of which was employment change on Friday evening. Unfortunately for the Canadian dollar the gains seen on the back of that release were very short lived. The AUDCAD pair traded down just below 0.9700, but we have seen a solid bounce from there. This is somewhat concerning and would suggest we could easily see further weakness in the CAD over the coming week. Resistance is seen around 0.9860 and a move above there open the way for correction toward 0.9950. We have business confidence data out this afternoon in Australia, then later in the week we have consumer sentiment, inflation expectations and a speech from RBA Assistant Governor Debelle will draw focus. From Canada we have manufacturing sales and inflation data to digest toward the end of the week.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9805 0.9700 0.9900 0.9688 - 0.9861

Friday 10th Oct 2:30PM (NZT)
The past week has seen a very gradual appreciation of the Australian dollar over the Canadian dollar. After trading down to a fresh cycle low near 0.9700 last week, the price action we have seen over the past 5 days is really just a consolidation of those losses as the market catches its breath from the sharp losses that started back in early September. Selling into strength is recommended for another test lower over the coming weeks. The pair could trade as high as 0.9950 without threatening that outlook. Next week from Australia we have business confidence, consumer sentiment and inflation expectations to draw focus. While from Canada we have manufacturing sales and inflation data to digest out on Thursday and Friday respectively.
The current interbank midrate is:    AUDCAD 0.9794

The interbank range this week has been:    AUDCAD 0.9733 - 0.9861
Tuesday 7th Oct 2:30PM (NZT)
The Australian dollar traded to a low around 0.9700 against the CAD in the early stages of last week, but a lack of follow through selling has seen something of a recovery develop. It is starting to look like a medium term low may have developed around the 0.9700 level and a move up through 0.9840 would confirm it. In that case the market will target 0.9930 and possible even 1.0000. We do have the Reserve Bank of Australia monetary policy statement this afternoon and that could easily influence. Later in the week we also have Australian employment data to digest. From Canada this week we have building permits, housing starts, and employment change to draw focus.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9773 0.9700 0.9930 0.9708 - 0.9834

Friday 3rd Oct 3:30PM (NZT)
The Australian dollar traded down toward 0.9700 against the CAD on a number of occasions this week, but failed to break lower. It seems the market was sitting short (sold) Australian dollars and the repeated failures on the downside eventually took their toll. A significant AUD short squeeze eventuated yesterday afternoon helped by better than forecast building consents data. This has seen the pair recover back up over 0.9800. Tonight we have the all-important US employment report and this could add further volatility to the market. Also tonight from Canada we get trade balance data and next week we have Ivey PMI, building permits, and employment numbers to digest. While from Australia we have the RBA rate statement and employment change to draw focus.
The current interbank midrate is:    AUDCAD 0.9812

The interbank range this week has been:    AUDCAD 0.9706 - 0.9834
Tuesday 30th Sept 12:00PM (NZT)
There has been no data of significance from Canada since last Wednesday’s softer than forecast retail sales numbers. That result helped the cross to the Australian dollar trade up as high as 0.9859, but since then the Australian dollar has underperformed the CAD and we have traded to fresh cycle lows at 0.9706. Some dramatic weakness in the New Zealand dollar has also weighed on the AUD over the past few days and this has kept the focus on the downside. Attention now turns to Australian data in the form of retail sales, building approvals and the trade balance. We also have the RBA’s testimony on housing market risks to a senate committee to digest later in the week. From Canada the economic calendar is pretty light again with just GDP tomorrow and the trade balance on Friday.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9730 0.9700 0.9900 0.9706 - 0.9859

Friday 26th Sept 3:30PM (NZT)
The past week has seen some good swings in this pair with little overall direction. The weeks low traded on Monday at 0.9743 and since then the pair has been up to 0.9859 and back down again. The Australian dollar has been under pressure across the board, but the CAD has also struggled on the back of poor retail sales data. Direction from current levels is a tough call. While the market holds above support around 0.9750 a broader recovery could develop, and weakness in the AUD over the past two weeks is starting to look a little overdone. But it is far from certain and a move down through 0.9750 would suggest further losses lie ahead. Next week from Australia we have retail sales, building approvals and the trade balance to digest. While from Canada we have GDP and the trade balance to draw focus.
The current interbank midrate is:    AUDCAD 0.9765

The interbank range this week has been:    AUDCAD 0.9743 - 0.9859
Tuesday 16th Sept 3:00PM (NZT)
The Canadian dollar was a strong performer last week helped by largely supportive data. Of particular note were the strong readings from manufacturing sales and inflation figures and these helped the CAD continue to outperform the Australian dollar. The pair traded down to a low of 0.9743, before seeing a small bounce in the past 24 hours. The broader downtrend is still in play, as long as resistance around 0.9840 contains this near term strength. A move above that level would warn a much bigger correction higher is under way which would target 0.9950 initially. The economic calendar is pretty light from Australia this week with the financial stability review and a speech by RBA Governor Stevens the main highlights. While from Canada we just have retails sales data tonight to digest.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9810 0.9700 0.9950 0.9743 - 0.9999

Friday 19th Sept 2:00PM (NZT)
The Canadian dollar has been a solid performer recently and this week was no exception. Better than expected data in the form of manufacturing sales and a positive tone from the Bank of Canada Governor both helped to support the CAD which has seen strong appreciation against the Australian dollar in the past 10 days. Minor support just ahead of 0.9800 has contained the downside for now, but calling a bottom to a move this powerful is a dangerous game. A move below 0.9800 would target 0.9730 and then 0.9600. Tonight we have Canadian inflation and wholesale sale data to digest, both of which could easily influence. Next week the focus switches to Canadian retail sales along with the leading index and the RBA financial stability review from Australia.
The current interbank midrate is:    AUDCAD 0.9828

The interbank range this week has been:    AUDCAD 0.9815 - 1.0053
Tuesday 16th Sept 3:00PM (NZT)
The Australian dollar was the one of the worst performing currencies last week and even a record gain in employment couldn’t halt its slide. Against the Canadian dollar the AUD fell back below parity, although downside momentum looks to have waned to a degree and we could easily get a recovery back toward 1.0100. Canada has plenty of data out this week that could influence starting with manufacturing sales tonight. Governor Poloz is also set to speak and then toward the end of the week inflation data and wholesale sales figures are set for release. I expect support around 0.9950 to contain the downside for now and the pair to try and stage a bounce. That bounce will run into resistance between 1.0100 and 1.0150 and selling into that potential strength is recommended.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9990 0.9950 1.0150 0.9968 - 1.0203

Friday 12th Sept 2:00PM (NZT)
Weakness in the Australian dollar over the past week has been the main factor in driving this pair down from levels above 1.0200. Although not driven by fundamental data, the AUD seems to have finally caught up to other currencies and succumbed to USD strength, something it had resisted for the two weeks prior. This sharp drop in the value of the AUD has seen the cross to the CAD trade back toward parity. Minor resistance around 1.0100 should now cap the topside, with the risks skewed to a break below 1.0000 at some stage. Next week from Australia we have the RBA minutes to digest, while from Canada we get manufacturing sales, inflation, wholesale sales and a speech from Governor Poloz
The current interbank midrate is:    AUDCAD 1.0020

The interbank range this week has been:    AUDCAD 1.0005 - 1.0226
Tuesday 9th Sept 2:00PM (NZT)
This pair has seen volatile price action within a contained 1.0120 - 1.0220 range over the last week. This range trading continues the sideways price action that has been in place since mid-July for this pair. Until we get a break of either side of this range, direction is not clear. To that end, with only second tier economic data in Canada this week, the primary focus comes in the form of the latest Australian employment numbers due for release on Thursday. The relative performances against the USD will also be a factor.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0190 1.0100 1.0240 1.0118 - 1.0226

Friday 5th Sept 2:30PM (NZT)
Both the Australian and the Canadian dollars have been strong performers this week each seeing periods of increased demand. Both countries have seen improving data and both central banks are firmly in the neutral camp. This has resulted in the cross rate chopping back and forth within the increasingly familiar range of 1.0120 to 1.2220 with little overall direction. It’s hard to see that scenario changing in the week ahead, although we do have some key Canadian data out tonight that could influence. Employment change and Ivey PMI both hit the wires later this evening and further strong results here could see support around 1.0120 tested again. Next week from Australia we have business confidence, consumer sentiment and employment change data to draw focus. While from Canada we get building permits and housing starts figures.
The current interbank midrate is:    AUDCAD 1.0166

The interbank range this week has been:    AUDCAD 1.0108 - 1.0197
Tuesday 2nd Sept 2:00PM (NZT)
A resurgent Canadian dollar is one of the few currencies to make gains against the Australian dollar over the past week. Better than forecast Canadian GDP on Friday evening helped to drive the pair down to just above 1.0100. Later this week from Canada we get the Bank of Canada rate statement, the trade balance, employment change and Ivey PMI data. But the immediate focus however, now turns to this afternoon’s Reserve Bank of Australia rate statement and the potential for some stronger words, re the value of the AUD, from the central bank. If we do see something along those lines from the RBA the cross may well have another crack at the 1.0100 level.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0140 1.0100 1.0240 1.0108 - 1.0224

Friday 29th Aug 1:30PM (NZT)
This week has been an interesting one for this pair. The Canadian dollar has seen somewhat inexplicable demand and this has seen it pressure the otherwise dominant Australian dollar. The strong Australian private capital spending data could not even alter the sentiment. Canadian GDP later on today will provide the lead ahead of a busy next week that will see the respective central banks provide the primary focus. With the RBA firmly in on hold territory, the market may be looking for a more hawkish stance from the BOC. The 1.0100 - 1.0240 parameters offer the initial boundaries for this pair and consolidation through either one of these will signal direction in the shorter term at least.
The current interbank midrate is:    AUDCAD 1.0153

The interbank range this week has been:    AUDCAD 1.0113 - 1.0223
Tuesday 26th Aug 1:30PM (NZT)
The Australian dollar has seen a gradual appreciation against the Canadian dollar this week. The AUD was actually a standout performer last week making gains on most crosses, but gains against the CAD were somewhat limited due to some relative CAD strength as well. This came as both wholesale sales and retail sales in Canada came in significantly above expectation. These results outweighed the negative impact of slightly weaker Canadian inflation data released on Friday. There is resistance on the topside toward 1.0240 and this should cap AUD strength in the near term. Later this week from Australia we get construction work done and private capital expenditure data, while from Canada we have current account and GDP data do digest.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0203 1.0100 1.0240 1.0148 - 1.0216

Friday 22nd Aug 2:00PM (NZT)
This pair has traded in a relatively contained range this week. Apart from the fall in AUD demand following yesterday weak Chinese manufacturing numbers, the Australian dollar has put in a grinding outperformance. The resistance at 1.0200 has contained the topside for the time being and the focus now turns to the Canadian data later today ahead of the central bankers’ symposium in Jackson Hole. The market has potential for volatility as the central bank heads speak, and the particular focus will be on US FED Governor Yellen. Next week sees private capital expenditure of primary focus in Australia, whilst in Canada the current account and GDP releases will be keenly watched. The nearby 1.0200 level remains the key for the direction in the short term. If the pair is contained by the resistance, it seems likely that a test to the downside would ensue.
The current interbank midrate is:    AUDCAD 1.0185

The interbank range this week has been:    AUDCAD 1.0116 - 1.0201
Tuesday 19th Aug 4:30PM (NZT)
The Australian dollar has seen a slight outperformance of the CAD this week, although trading has been somewhat choppy. Improved reading from business confidence, consumer sentiment and house prices have all helped the AUD. The surprise re-release of Canadian employment data caused a sharp drop in the pair as the CAD found buyers, but it was only short lived and AUD gains have outpaced those of the CAD since then. There is still plenty to come this week that could influence. Tomorrow we have a speech from Governor Stevens to digest while from Canada we get wholesale sales, inflation and retail sales data.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0175 1.0100 1.0240 1.0116 - 1.0175

Friday 15th Aug 3:55PM (NZT)
The Australian dollar saw some intense initial pressure from the CAD this week, and this largely reversed the move in the other direction from last Friday. After that the price action has been far more sedate. The AUD saw a grinding outperformance of the CAD, albeit the resistance at 1.0190 has tempered the appreciation in the last few sessions. Direction from the current levels is unclear, but its seems likely that the tight range of the last three weeks of 1.0100- 1.0220 will again contain the price action in the coming week. Targeting levels at either end of this wholesale range will offer value for those with a little time on their side.
The current interbank midrate is:    AUDCAD 1.0161

The interbank range this week has been:    AUDCAD 1.0105 - 1.0190
Tuesday 12th Aug 2:00PM (NZT)
The past week has seen some dramatic swings in this pair as both currencies have seen periods of intense pressure. Australian employment data on Thursday triggered a bout of AUD selling that drove the cross down from 1.0210 towards 1.0100. Then on Friday evening it was the turn of the Canadian dollar to underperform after Canadian employment also printed on the soft side. The pair initially spiked higher although those gains have largely been reversed in the past 24 hours, helped by better housing starts data out of Canada. Direction from here is a tough call. I tend to favour the downside at this stage however we need to see a break of minor support at 1.0100 to confirm it. Until that happens we could easily see the pair gain ground again, although I would be surprised to see it move as far back up at 1.0200. From Australia this week we get consumer sentiment, the wage price index, and inflation expectations. While from Canada we have the house price index and manufacturing sales data to digest.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0125 1.0100 1.0240 1.0105 - 1.0228

Friday 8th Aug 2:30PM (NZT)
The Australian dollar was making consistent gains against the CAD for much of this week, however that all changed yesterday afternoon after Australian employment data hit the wires. The much weaker than expected employment change result combined with a big jump in the unemployment rate saw the AUD immediately come under pressure. The pair traded from 1.0210 to 1.0120 and we have yet to see any meaningful recovery. Better than expected Canadian data has kept the focus for the pair on the downside and tonight we get Canadian employment data to add to the mix. A strong result here could see the pair target the 1.0050 area. Next week from Australia we have business confidence, consumer sentiment, the wage price index and inflation expectations. While from Canada we have housing starts, the house price index and manufacturing sales data to digest.
The current interbank midrate is:    AUDCAD 1.0130

The interbank range this week has been:    AUDCAD 1.0114 - 1.0228
Tuesday 5th Aug 1:30PM (NZT)
This pair came under pressure late last week as the Australian dollar underperformed against the CAD. A better than forecast result for Canadian GDP help drive the pair to its 1.0118 low, however as we headed into the weekend we saw a sharp turn around. This bounce was triggered by softer than forecast US employment numbers and the AUD materially outperformed the CAD in the wake of that release. The pair has now recovered all its losses currently trading just below 1.0190. The focus now turns to the RBA rate statement later this afternoon and then Australian employment data on Thursday. From Canada there is also plenty to digest late in the week with the trade balance, building permits, Ivey PMI and employment change all set for release. The broad uptrend that started in early July is still in play and this keeps the immediate focus on the topside. Only a move below 1.0140 will alter that picture.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0172 1.0100 1.0240 1.0118 - 1.0192

Friday 1st Aug 1:50PM (NZT)
A couple of releases this week seem to have turned this pair around for now and the downside is starting to look the risk in the near term. US GDP hit the wires in the early hours of Thursday morning and caused some sharp movements in currencies. The Australian dollar was a big under performer in the wake of that data and as such the AUDCAD cross lost ground. Then last night we got better than expected Canadian GDP data and the CAD saw good buying that drove the pair lower again. We have seen a bounce from last night’s 1.0117 low, but it has so far failed to overcome initial resistance around 1.0150. This keeps the focus on the downside and tonight’s US employment data could easily see further volatility. A move down through 1.0100 would confirm that the rally we have seen since early July has run its course and the target would be a move back below 1.0000. From Australia next week we have retail sales, the RBA rate statement and employment data are all set for release. While from Canada we get the trade balance, building permits, Ivey PMI and employment change.
The current interbank midrate is:    AUDCAD 1.0153

The interbank range this week has been:    AUDCAD 1.0103 - 1.0192
Tuesday 29th July 1:30PM (NZT)
We have seen some good swing in this pair over the past week, however the overall trend has most certainly been to the topside. Stronger than expected inflation in Australia has coupled with soft Canadian core retail sales to see the cross driven back up over 1.0160. The focus remains on the topside and further gains are likely. Only a move down through 1.0100 would negate this. This initial topside target is a test of resistance around 1.0240. This week from Australia we get building approvals and producer prices data to digest, while from Canada we get the raw materials price index and GDP.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0160 1.0100 1.0300 1.0055 - 1.0180
 
Friday 25th July 4:0PM (NZT)
Gains in the Australian dollar this week have been largely responsible for this pair trading up to its 1.0166 high. The AUD has benefited from solid inflation data and an improved reading on Chinese manufacturing. Although we have seen a pull back from those highs overnight, the pair has held above initial support at 1.0100. This keeps the focus on the topside for now. It will take a move below that level to alter the current positive outlook. Next week from Australia we have new home sales, building approvals, import prices and producer prices. While from Canada we get the Raw Material Price Index and GDP.
The current interbank midrate is:    AUDCAD 1.0117

The interbank range this week has been:    AUDCAD 1.0046 - 1.0166
Tuesday 22th July 2:30PM (NZT)
This pair has been very range bound for the past ten days. 1.0040 to 1.0100 seems to have contained price action and at this stage it’s hard to see what could change that. We did get a slightly stronger reading from Canadian inflation on Friday, but it wasn’t enough to see the range threatened at all. Tomorrow’s Australian inflation release could spark a move if it prints significantly away from the 0.5% expectation. A downside breakout is probably the slight favourite with a move below 1.0040 opening the way for a move back to Julys 0.9939 low.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0073 1.0000 1.0200 1.0045 - 1.0014

Friday 18th July 4:00PM (NZT)
At the very end of last week we got poor Canadian employment data that drive this pair back up to the 1.0100 level. Since then we have seen a tight range develop between that level on the topside and 1.0040 on the downside. The broader trend however, has been down since the pair made highs above 1.0300 back in April. this would suggest 1.0100 should continue to cap with the pair turning back down at some stage. We do get Canadian inflation data tonight which will be closely watched and next week we get retail sales figures. From Australia next week we also have inflation data along with a speech from RBA Governor Stevens to digest.
The current interbank midrate is:    AUDCAD 1.0060

The interbank range this week has been:    AUDCAD 1.0045 - 1.0102
Tuesday 15th July 1:05PM (NZT)
Weakness in the Canadian dollar has been the main driver of this pair over the course of the week. Some mixed data early last week had little impact but Friday’s disappointing employment result saw the CAD lose significant ground. The pair broke back above 1.0050 in the wake of that release and has stayed above that level since. The Australian dollar saw some volatility around its own employment data on Thursday, but generally the local currency has been subdued for much of the past week. We do have the RBA minutes to digest in the coming hours and later in the week we get business confidence. From Canada there is also plenty to digest over the coming days with manufacturing sales, inflation, wholesales sales, and the Bank of Canada rate meeting all set for release.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0065 1.0050 1.0250 0.9983 - 1.0102

Friday 11th July 1:30PM (NZT)
The Australian dollar made gains against the CAD in the early part of this week but the pair couldn’t overcome minor resistance around 1.0050. Yesterday’s disappoint Australian employment data saw the AUD come under some pressure and this was exacerbated by a wave of ‘risk off’ sentiment that swept through the market last night. As a result the pair now trades back down just below 1.0000. The focus now turns to tonight’s key release of Canadian employment data. The market is expecting a result of +20.7k and anything higher than that will see buyers of CAD emerge. This could easily push the pair back to the week’s lows of 0.9940. From Australia next week we have the RBA minutes and business confidence data to digest. While from Canada we get manufacturing production, the Bank of Canada rate meeting, inflation and wholesale sales data.
The current interbank midrate is:    AUDCAD 0.9990

The interbank range this week has been:    AUDCAD 0.9940 - 1.0050
Tuesday 8th July 2:45PM (NZT)
Last week saw a resurgent Canadian dollar make good ground against the Australian dollar that struggled after soft data and negative comments from RBA Governor Stevens. The pair traded back below 1.0000 for the first time since March eventually making a 0.9938 low late in the week. We have however seen a good recovery off those lows thanks in part to a poor reading from Canadian Ivey PMI last night. The pair has now recovered to trade just above 1.0000, although the downside is still the risk. We have key employment data from both countries later in the week and these two releases will likely set the tone for the pair heading into next week.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0020 0.9900 1.0100 0.9938 - 1.0116

Friday 4th July 12:30PM (NZT)
The Australian dollar has been completely outperformed by the CAD this week with the pair breaking back below 1.0000 for the first time since early March. Some early strength in the AUD was quickly reversed on Wednesday after shocking trade balance data and the pressure was compounded yesterday after soft retail sales figures and comments from RBA Governor Stevens. The Canadian dollar was helped by last night’s better than expected trade balance data and good employment numbers from their closest neighbour, the USA. The combination of these forces has seen sharp losses for the pair in the past 24 hours and the risk remained skewed to the downside. Selling on any bounce back toward 1.0000 is recommended as the pair could easily target the 0.9800 level over the coming weeks. Next week from Australia we have business confidence and employment data to digest while from Canada we get building permits, Ivey PMI, housing starts, and employment change.
The current interbank midrate is:    AUDCAD 0.9946

The interbank range this week has been:    AUDCAD 0.9938 - 1.0116
Tuesday 1st July 2:15PM (NZT)
Given the traditional volatility of this pairing, the last week has seen a contained trading range. Certainly the CAD looks to be in resurgent form with initial resistance now in place and the risk for further AUD weakness this week. The RBA monetary policy statement later today offers the primary focus of the week, following yesterday’s Canadian GDP number. Much of the direction in the later part of the week will come from the release of the US employment numbers. The support at parity remains the key to direction in the short term at least. A consolidated break of that level would open up the way for another material move lower.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0056 1.0000 1.0200 1.0029 - 1.0116

Friday 27th June 2:00PM (NZT) - Update
It has been a strange week for this pair, with limited direct economic news in either economy. The AUD got a temporary boost higher from the improved Chinese manufacturing numbers on Monday, but the gains could not be sustained. The materially higher than expected inflation and retail sales data in Canada has had a lasting effect on the CAD. It looks like we may have turned a corner (spoken too soon?), after  what has been a very tough first half of 2014 for the CAD. Support at 1.0050 has contained the CAD pressure for the time being, albeit very close from current market levels. Next week sees early focus provided by the monthly Canadian GDP numbers on Monday. These are followed by the RBA monetary policy decision on Tuesday and Australian building consent and retail sales numbers on Thursday.
The current interbank midrate is:    AUDCAD .93801.0073

The interbank range this week has been:    AUDCAD 1.0050 - 1.0182
Tuesday 24th June 2:43PM (NZT)
The Canadian dollar has finally found some demand over the last week. The largest move came after the materially higher than expected inflation and retail sales data on Friday. This has been backed up with the improved US numbers, which countered the AUD’s jump following yesterday’s improved Chinese manufacturing numbers. Initial resistance is now in place at 1.0150, and support at 1.0050. Expect the US data to provide the lead this week, with no material economic news due from the Australian or Canadian economies. Whether or not these latest numbers prove to be a turning point for the CAD remains to be seen, but it is encouraging to say the least. Expect the volatile nature of this pair to continue for the remainder of 2014.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0110 1.0050 1.0250 1.0082 - 1.0200

Friday 20th June 2:00PM (NZT) - Update
This pair continues to trade within an increasingly familiar 1.0030 - 1.0230 range that has established itself over the last two months. To start the week, the AUD saw concerted pressure from the CAD, only to be rescued by the increased AUD demand following the Fed’s monetary policy statement. However the initial resistance at 1.0200 curbed the pair and the price action has just drifted off from there in the last few sessions. Canadian retail sales and inflation data later on today provides some intense near term focus. Next week will see the lead come from the wider market dynamics in an absence of materially economic news in either economy.
The current interbank midrate is:    AUDCAD 1.0181

The interbank range this week has been:    AUDCAD 1.0131 - 1.0235
Tuesday 17th June 3:43PM (NZT)
After trading a fairly contained range over the last week, the pressure has been increasing on the AUD in the last couple of sessions. It is probably in line with intensifying issues and risk aversions in the Middle East, but the support at 1.0150 looks very much like being tested in the coming hours. If the support at 1.0150 gives way, expect investigations lower to ensue, with an initial target of 1.0100. Following the mostly uneventful RBA meeting minutes this afternoon, the focus now shifts to the latest Canadian inflation and retail sales numbers on Friday.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0158 1.0150 1.0350 1.0155 - 1.0242

Friday 13th June 2:30PM (NZT) - Update
This pair has continued to see volatile price action this week, albeit in a relatively contained range in directionless trade. The initial resistance at 1.0250 has contained the AUD appreciation on two occasions and the current pricing is just below this level. With the increasing issues in Iraq, the CAD’s closer correlation with the US dollar could limit its appreciation in the short term. Any rally up toward the 1.0300 level would provide another opportunity to buy CAD with Australian dollars at great value levels. In Australia next week, speeches from the RBA Gov. Stevens and his assistant Kent will be closely follow. In Canada Friday’s inflation and retail sales data provide the focus for the week..
The current interbank midrate is:    AUDCAD 1.0219

The interbank range this week has been:    AUDCAD 1.0177 - 1.0242
Tuesday 10th June 1:00PM (NZT)
The past week has seen strong gains for this pair with the dual drivers of Australian dollar strength and CAD weakness powering the cross higher. The AUD has benefited from a stable outlook from the RBA and better than forecast GDP data while the Canadian dollar has suffered from a raft of softer than expected data including Fridays key employment numbers. Relief for the CAD finally came last night with the release of housing starts that beat expectation, although this has only caused a small pullback. This afternoon we get business confidence data from Australia and later in the week we have consumer sentiment and employment change data to draw focus. From Canada we have to wait to the end of the week to get manufacturing sales data and we also hear from BOC Governor Poloz. For the time being the risks are skewed towards further gains.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0195 1.0100 1.0300 1.0065 - 1.0232

Friday 6th June 2:30PM (NZT) - Update
This week has seen the Australian dollar dramatically outperform the CAD. Early weakness in the wake of soft Australian building consents was quickly reversed as the pair powered higher. The gains were helped by better Australian GDP data, but also by universally soft Canadian releases. Most notably was the Ivey PMI last night that showed a big fall. This kept the pressure on the Canadian dollar and last night the pair traded up to 1.0210. It seems likely the gains will continue in the near term with an initial target of minor resistance at 1.0270. Any move above there opens the way toward recent cycle highs at 1.0350. We do however have key data tonight in the form of employment numbers from both the US and Canada, and these could certainly shake things up. Next week is a lot quieter on the data front from Canada with only housing starts, the house price index, and manufacturing sales of any note. While from Australia we have business confidence, consumer sentiment, and employment data to digest.
The current interbank midrate is:    AUDCAD 1.0186

The interbank range this week has been:    AUDCAD 1.0035 - 1.0210
Tuesday 3rd June 6:30PM (NZT)
This pair has seen a game of two halves over the last week. The AUD saw a strong bounce following the encouraging detail in the capital expenditure data. However, these gains were not to be maintained. Yesterday’s disappointing building approvals data undermined the AUD demand and this saw the pair pushed down to initial support at 1.0040 before a small corrective bounce ensued. The RBA meeting out this afternoon makes for the near term focus ahead of the GDP data Wednesday and then the trade balance on Thursday. The BOC monetary policy announcement on Thursday will off some focus, but the impact on the price action should be limited. From there the release the latest employment numbers on Friday becomes the next data release of note.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0085 1.0000 1.0200 1.0010 - 1.0115

Friday 30th May 2:00PM (NZT) - Update
The early stages of this week saw quiet trading with this pair maintaining a subdued range around 1.0040. There has been little in the way economic releases from Canada so this week, so it was left to Australian data to spark some action. That is exactly what happened after yesterday’s capital expenditure data shows expectations for 2014/15 were significantly higher than forecast. The Australian dollar jumped higher on the news and those gains have been sustained overnight. The pair now trades just below 1.0100 with an upside bias. Minor resistance at 1.0120 has so far capped the move and it will take a move above there to open the way for further gains. Tonight from Canada we have GDP data that will be closely watched, and next week should prove to be a big one. Along with a raft of data from both countries we also have the Bank of Canada and Reserve Bank of Australia rate meetings.
The current interbank midrate is:    AUDCAD 1.0098

The interbank range this week has been:    AUDCAD 1.0010 - 1.0115
Tuesday 27th May 2:30PM (NZT)
The AUD has continued to see pressure from the Canadian dollar with the pair trading to a 1.0028 low at the end of last week. Gains in the CAD came as inflation data printed bang on expectation at +0.3% on Friday night. We have now seen a significant pullback in this pair from the 1.0264 high set a couple of weeks ago. The risks are still skewed to the downside, although there is certainly potential for a corrective bounce toward resistance at 1.0140 without threatening the broader negative picture. Any move down through 1.0020 would open the way for a much deeper decline targeting the 0.9800 level initially. From Australia this week we get construction work done, new home sales, and private capital expenditure figures. While the focus in Canada turns to Friday’s GDP data.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0040 1.000 1.0200 1.0028 - 1.0153

Thursday 22nd May 3:30PM (NZT) - Update
The CAD has seen a grinding appreciation over the Australian dollar this week. In what has been almost one way traffic, the only real support has been found at the 1.0050 level. Here momentum has waned and finally we have seen a partial recovery from the AUD. Given the current sentiment with regards to the AUD, and its commodity driven price action, any further recovery from the current levels should prove harder fought. In the short term the Canadian retail sales and inflation data should provide the lead in the coming days. Next week the Australian private capital expenditure numbers will be of primary focus on Thursday, ahead of the latest monthly Canadian GDP numbers on Friday.
The current interbank midrate is:    AUDCAD 1.0108

The interbank range this week has been:    AUDCAD 1.0054 - 1.0203
Tuesday 20th May 3:00PM (NZT)
Since trading up to 1.0263 on Wednesday last week, this pair has seen only downside action. The drivers of this have been some relative weakness in the Australian dollar, and strength in the Canadian dollar on the back of better data. In the last few hours the AUD has seen further pressure and the pair now looks heavy trading just above 1.0100. Any move down below there would signal a much broader pullback is unfolding. Over the coming days from Australia we have consumer sentiment, the wage price index, and inflation expectations to draw focus. While from Canada we have wholesale sales, retail sales, and inflation data to digest.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0124 1.0100 1.0300 1.0116 - 1.0263

Friday 16th May 2:00PM (NZT) - Update
This pair has had little overall direction for the past two weeks. The current level is close to where it was trading back on the 29th March. We did see a small period of strength mid-week with the pair trading up to 1.0263, but it was short lived. Since then some relative weakness in the Australian dollar has combined with better than expected manufacturing sales data from Canada to see the cross retrace all the way back to 1.0160. For the time being we can expect further ranging between 1.0100 and the 2014 highs of 1.0349. Any move down through 1.0100 however would warn of a much bigger pullback. Next week from Australia we have the RBA minutes along with consumer sentiment and the wage price index. While from Canada we get wholesale sales, retail sales, and inflation data.
The current interbank midrate is:    AUDCAD 1.0174

The interbank range this week has been:    AUDCAD 1.0123 - 1.0263
Tuesday 13th May 2:00PM (NZT)
The past week has seen some choppy trading for this pair with periods of strength for both currencies. Australian employment boosted the AUD last week but this was quickly followed by a bout of CAD strength after housing starts data showed improvement. The heading into the weekend the pair rallied again as the CAD reacted negatively to weaker than expected employment data. This volatile price action is certainly not uncommon for the AUDCAD cross and todays Australian budget could easily spark another move. Support around 1.0150 has contained the downside since mid-March and while the market holds above there a rally back to 1.0300 cannot be ruled out.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0198 1.0100 1.0300 1.0123 - 1.0223

Friday 9th May 2:00PM (NZT) - Update
It has been a choppy week for this pair with little overall direction. Yesterday’s better than expected Australian employment numbers caused a material increase in demand for AUD’s and as such the pair spiked up to 1.0226. But overnight some improved data from Canada in the form of housing starts has seen the CAD outperform, and this has caused the pair to reverse all yesterday’s gains. We get further key data from Canada tonight when their employment numbers are released and this will likely set the tone for trading in the near term. The longer term picture is starting to look a little negative and another test of support around 1.0100 looks likely. A move below there opens the way for a much broader pullback. Locally next week we have business confidence and the annual budget to digest. While from Canada we get the semi-annual Bank of Canada (BOC) review along with manufacturing sales data.
The current interbank midrate is:    AUDCAD 1.0140

The interbank range this week has been:    AUDCAD 1.0119 - 1.0226
Tuesday 6th May 2:00PM (NZT)
This pair broke below trendline support just over a week ago, but has so far failed to kick on with the downside. A break below 1.0150 is needed to confirm the downside bias, but as yet that level has largely contained any weakness. I say largely because there was a brief period in the wake of Friday night’s US employment data when the pair spiked down to 1.0119. But the very quick reversal that was seen has negated this breach of the level, and so we are back to where we were this time last week. The risks are still skewed to the downside, but for now there is no momentum either way. That could change with a raft of releases from both countries this week. First up is the RBA meeting this afternoon, and although no one is expecting a change in stance or tone from the central bank, the statement will be closely scrutinised. This is followed by retail sales tomorrow and employment data on Thursday. While from Canada we have the trade balance, Ivey PMI, building consents, and employment data set for release.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0180 1.0150 1.0350 1.0119 - 1.0226

Friday 2nd May 3:00PM (NZT) - Update
The downside pressure in this pair has continued this week and we have seen a decent test of key support around 1.0150. The dip to 1.0143 was short lived with a bounce quickly ensuring to 1.0200 but the market has again turned down and another test looks likely. The Australian dollar has struggled to hold onto any gains this week and if we get a sustained move below 1.0150 it would confirm the view that the rally which started from 0.9450 at the end of last year has run its course. Topside strength should now be limited to 1.0250 at the most, with an initial downside target of 1.0000. US employment data tonight could well shake thing up, but next week there is also plenty to draw focus. From Australia we have building approvals, retail sales, the RBA rate meeting and employment change. While from Canada we get the trade balance, Ivey PMI, building permits and employment change.
The current interbank midrate is:    AUDCAD 1.0168

The interbank range this week has been:    AUDCAD 1.0143 - 1.0265
Tuesday 29th April 3:30PM (NZT)
This pair was trading up near recent cycle highs heading into last week’s Australian inflation data. That softer than expected result however, caused a sharp selloff in the AUD and as such, the cross to the CAD quickly turned around. The Australian dollar has maintained a downside bias since then, while patchy data from Canada has had little overall influence. Support at 1.0150 is yet to be tested and while the pair holds above there, the longer term uptrend that started late last year remains in play. However, a move below 1.0150 would signal that uptrend has run its course and I would then expect a much broader pullback which would target 1.0000 initially. The focus for this week in Canada turns to as speech from Governor Poloz tomorrow and GDP data on Thursday. From Australia the highlight will be producer prices data on Friday.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0185 1.0100 1.0300 1.0185 - 1.0341

Wednesday 23rd April 4:30PM (NZT) - Update
The volatility for this pair has continued over the last week, with both currencies seeing periods of intense pressure at times. The CAD saw pressure following the BOC’s Gov. Poloz comments that rate cuts were not “off the table”. However, the following day saw higher than expected inflation numbers, and this reversed the pressure on the CAD. Certainly the new Gov. Poloz appears to be somewhat of a reverse indicator giving recent sweeping comments have almost immediately been contradicted by the economic data. From there the AUD ground back close to the highs for the last week, but this changed today with the release of the Australian inflation numbers. The weaker than expected number saw the AUD smacked lower before bouncing slightly off the 1.0250 level, and that level remains importance initial support at this time. From here the retail sales numbers in Canada will hold focus in what is a short week for data in Australia.
The current interbank midrate is:    AUDCAD 1.0270

The interbank range this week has been:    AUDCAD 1.0256 - 1.0348
Thursday 17th April 3:30PM (NZT) - Update
The broad uptrend in this pair that started at the beginning of the year is still well intact, and this week we saw a fresh cycle high of 1.0348 trade. This came in the wake of the Bank of Canada’s rate statement and press conference when Governor Poloz said they hadn’t closed the door on further rate cuts. This instantly put the CAD under all sorts of pressure and the pair is still holding above 1.0300. There are signs however that upside momentum is waning, and we could easily see a pullback to trend line support around 1.0170. It would take a move down through that level to warn the rally is done, and this would likely trigger further selling and a much bigger correction. Domestically the focus turns to Australian inflation on Wednesday, while from Canada the only data next week comes in the form of wholesale and retail sales.
The current interbank midrate is:    AUDCAD 1.0315

The interbank range this week has been:    AUDCAD 1.0197 - 1.0348
Tuesday 15th April 2:30PM (NZT)
This week has seen the AUDCAD make fresh cycle highs at 1.0334, this marks the best levels since May last year. The pair has been driven higher on the back of a weaker Canadian dollar, thanks to soft housing market data, and a strong Australian dollar. The AUD has benefited from improving sentiment, driven in large part by better data. Last week's employment numbers were of particular importance here. The pair has seen a strong rally from levels just above 0.9400 at the start of this year, and that trend shows no signs of abating just yet. Key to near term price action will be the Bank of Canada rate statement set for release early Thursday morning. We also get manufacturing sales and inflation data from Canada this week, while from Australia we got the benign RBA minutes this afternoon, which followed by business confidence and motor vehicle sales later in the week.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0310 1.0150 1.0350 1.0165 - 1.0334

Friday 11th April 3:30PM (NZT) - Update
The Australian dollar rallied strongly against the CAD this week and came very close to last week’s high. Poor housing data from Canada weighed on their currency, while the AUD saw solid demand, especially in the wake of yesterday’s better than expected employment numbers. We have seen a reversal from yesterday’s peak that was triggered by poor Chinese trade data and stock market nervousness. Both those influences have weighed on the AUD in the past 24 hours. With two rejections from the 1.0300 level in the past two weeks, we could now be in for a deeper correction. The target for such a move would be long term trend support around 1.0100. Next week from Canada we have manufacturing sales, inflation, and the Bank of Canada (BOC) rate review and statement. While from Australia the focus turns to the RBA minutes set for release on Tuesday.
The current interbank midrate is:    AUDCAD 1.0255

The interbank range this week has been:    AUDCAD : 1.0154 - 1.0296
Tuesday 8th April 1:30PM (NZT)
The Canadian dollar has continued its fight back against the AUD over the past week, helped by strong employment data. The gain of 42.9k jobs was much better than expectations for a 22.5k gain, and this saw a material increase in demand for the CAD. The Australian dollar itself has performed well since late last week, but the CAD has done better and as a result the cross has drifted lower trading down to 1.0152 so far. Friday’s employment data was just the latest in a string of better than expected results out of Canada and this should continue to see the CAD supported in the near term. The immediate focus now turns to Australian employment set for release on Thursday. That result could well dictate trade heading into the weekend. From Canada this week we have building permits and housing starts on Wednesday to digest.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0175 1.0100 1.0300 : 1.0152 - 1.0274

Friday 4th April 1:30PM (NZT) - Update
This week has seen the Australian dollars momentum wane against the CAD. The price action has been volatile within its relatively contained range. The CAD has bounced back a little after the immense pressure it has seen over the last few weeks. The better than expected GDP number on Monday provided the latest boost and the employment numbers later on today offer a chance of further stimulation to demand. Next week sees the primary focus come in the form of the Australian employment numbers on Thursday. The current levels still look to offer great value buying of CAD with Australian dollars. If the CAD can continue to find increased demand, consolidation through the support around 1.0100 would likely see another leg lower ensue.
The current interbank midrate is:    AUDCAD 1.0197

The interbank range this week has been:    AUDCAD 1.0152 - 1.0274
Tuesday 1st April 1:30PM (NZT)
There was an absence of material economic data for either economy last week. This absence of data did not stop the AUD making grinding appreciation against the CAD. The increased AUD demand came as somewhat of a surprise, and is likely to have been a result of the reversing of investors “sold AUD” positions. The better than expected Canadian growth numbers overnight should help tame further AUD demand from the current levels. The RBA monetary policy meeting later on today will offer the primary Australian focus for the week, and comes ahead retail sales and the trade balance on Thursday. In Canada the focus now moves to Friday’s employment and manufacturing numbers. Current levels look to offer very good buying of CAD with Australian dollars.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0245 1.0100 1.0300 1.0163 - 1.0313

Friday 28th March 12:30PM (NZT) - Update
This week has been an interesting one for this pair, as both currencies have seen periods of markedly increased demand. The Australian dollar dominated the first half of week, before the recently beleaguered CAD finally made a comeback, and has reclaimed over 100points of lost ground. The current level around 1.0200 remains crucial in the short term. Any consolidation through there on the downside would likely lead to further CAD gains and pressure on the AUD. With a full economic data calendar for both economies next week, there is potential for further increased volatility which will not be a new experience for this particular pair.
The current interbank midrate is:    AUDCAD 1.0215

The interbank range this week has been:    AUDCAD 1.0144 - 1.0316
Tuesday 25th March 2:00PM (NZT)
Much of the past week has seen continued grinding appreciation of the Australian dollar against the CAD. These gains have gone against all fundamental economic data that would suggest a correction lower for the pair. Firstly we has stronger than expected inflation and retail sales figures from Canada late last week, then yesterday we got another soft reading on Chinese manufacturing. The AUD has largely ignored that Chinese data and continues to outperform the CAD. You have to respect price action this strong and on that basis we could see further gains before any correction lower eventuates. There is resistance between 1.0250 and 1.0270 and this band should cap further strength in the near term. From Australia tomorrow we get the RBA’s financial stability review and a subsequent speech from Governor Stevens. There is little else set for release from Canada this week.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0235 1.0050 1.0250 1.0018 - 1.0242

Friday 21st March 2:00PM (NZT) - Update
The Australian dollar has gained further ground against the beleaguered CAD this week.  A good portion of the appreciation came on Tuesday as both the AUD and NZD saw sharp spikes in demand following little in the way of news. The brief attempt to break the upper resistance at 1.0200 proved a step too much and the 60pt retracement followed quickly. The Canadian inflation and retail sales numbers later on today provide the focus to finish the week. The inflation number is of primary importance and any number higher than expectation would lead to some CAD strength. Next week there are limited data releases in both economies, so expect the wider market sentiment to provide the lead.
The current interbank midrate is:    AUDCAD 1.0180

The interbank range this week has been:    AUDCAD 0.9988 - 1.0207
Tuesday 18th March 3:30PM (NZT)
The Australian dollar made strong gains against the CAD in the wake of last Thursday’s employment data. The pair surged up to 1.0086, however the gains didn’t last long. Risk aversion heading into the weekend and the Ukrainian referendum saw most of those gains retraced. However, in the early stages of this week, with no sign of strong action from the west, risk appetite has returned and the AUDCAD has had another attempt higher. There seems to be plenty of resistance between 1.0060 and 1.0100 and this continues to cap the topside for now. With little to focus on domestically this week, attention will turn to the important Canadian releases of inflation, retail sales, and manufacturing sales.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0044 0.9850 1.0050 0.9922 - 1.0086

Thursday 13th March 5:00PM (NZT) - Update
The CAD had made a fight back of sorts against the AUD this week, although Australian employment numbers released in the last few hours have put pay to that. Increasing fear over the Chinese credit bubble has seen hard commodity markets under pressure and this has had kept the AUD on the back foot for much of the week. However this afternoon’s Australian employment numbers surprised the market coming in much stronger than expected. This has seen the AUD leap higher and the cross to the CAD is now close to retesting recent highs around 1.0100. We can expect the pair to remain elevated in the near term. Next week’s Australian focus comes in the form of the RBA minutes Tuesday, ahead of Canadian inflation data Friday. No doubt Chinese sentiment will continue to be a leading factor in direction for this pair. Overtime the current levels should show to have offered good value buying of CAD with AUD.
The current interbank midrate is:    AUDCAD 1.0062

The interbank range this week has been:    AUDCAD 0.9922 - 1.0086
Tuesday 11th March 3:00PM (NZT)
Last week the Australian dollar made up the previous weeks’ lost ground against the beleaguered CAD. The rise in AUD demand was driven by increased risk appetite coupling with the positive economic news in Australia. The pair has drifted off again to start this week where Thursday Australian employment numbers provide the focus. Again the current levels offer great value buying of Canadian dollars with AUD. If the initial resistance at 1.0050 can contain further AUD strength, then pressure on the .9850 support should be forth coming.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0034 0.9850 1.0050 0.9886 - 1.0106

Thursday 6th March 8:30PM (NZT) - Update
After initial pressure to start this week, the improved wider market sentiment and solid economic news in Australia has seen the AUD take back a good portion of last week’s lost ground against the CAD. With the respective central banks offering little of surprise, the focus now turns to the Canadian and US employment numbers on Friday. The pair remains well within the recent ranges that offer on-going good value buying of CAD with Australian dollars. Next week will see the primary focus come from the Australian employment numbers on Thursday. Any strong influence on wider market risk aversion/appetite will continue to be of central on the AUD, the therefore this pair.
The current interbank midrate is:    AUDCAD 0.9958

The interbank range this week has been:    AUDCAD 0.9827 - 0.9967
Tuesday 4th March 2:00PM (NZT)
For much of last week this pair traded a contained range, as both currencies battled increased supply for periods of time. Only late in the week did the AUD see some real pressure, and this saw the support at .9850 tested to start this week. The AUD managed to climb back without consolidating through that level, and now the focus turns to the raft of important economic releases in both economies this week. With both respective central banks due to make monetary policy statements, the initial focus comes from the RBA later on today, ahead of the BOC tomorrow. Adding the other significant economic releases scheduled, and there is potential for elevated levels of volatility for this pair in the coming days. The .9850 support seems the most vulnerable side of the range in the near term, and consolidation through this level would certainly open up the way for the AUD to make further investigations lower.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9892 0.9850 1.0050 0.9827 -1.0017

Friday 28th February 3:00PM (NZT) - Update
After testing resistance around 1.0050 last Friday, the AUDCAD pairing has had a more consolidative tone this week preferring to range trade below 1.0000. Recent poor Australian data in the form of private capital expenditure weighed on the AUD and saw the pair briefly trade under 0.9920 yesterday. But the Canadian dollar has itself been a poor performer recently and this helped the pair quickly recover the dip. There hasn’t been a lot of key data from Canada this week, however tonight we do get GDP data which could impact. Next week is a different story with building permits, Ivey PMI, employment change and the trade balance all set for release. Ahead of these we have the Bank of Canada’s rate meeting and statement on Thursday morning. From Australia we also have the RBA rate meeting along with building approvals, GDP, retail sales, and the trade balance. The 1.0050 level is key and without a sustained break above there the risks are the pair will eventually fall back toward 0.9800 and possibly even 0.9600 over the coming weeks.
The current interbank midrate is:    AUDCAD 0.9998

The interbank range this week has been:    AUDCAD 0.9848 - 1.0060
Tuesday 25th February 3:00PM (NZT)
After some initial Chinese data inspired weakness last week, the AUD saw periods of strong demand against the beleaguered Canadian dollar. This eventually saw a brief test of the resistance at 1.0050, albeit the break of that level proved to be a step too far. This week has started with uninspiring price action. Expect the focus to increase later in the week as the Australian private expenditure number on Thursday comes ahead of private sector credit numbers on Friday. The primary focus is provided by the monthly GDP numbers in Canada late Friday. A consolidated break of 1.0050 would open up the pair for a break higher to a new range, albeit that seems an unlikely scenario at this point in time.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9993 0.9850 1.0050 0.9848 - 1.0060

Friday 21st February 1:30PM (NZT) - Update
Volatility in the AUDCAD pairing has continued this week with the key driver being the release of soft Canadian wholesale sales data. Up until that point the pair was drifting lower towards 0.9850, but that data turned the market around as the CAD came under renewed selling pressure. A sharp drop in the cross yesterday on the back of soft Chinese data was only short lived and the pair is now testing resistance around 1.0000. A move up through here will open the way for a test of the October 2013 high of 1.0048. Tonight’s data from Canada in the form of inflation and retail sales will be key for near term direction. Next week the only releases of note are Canadian current account and GDP figures out on Thursday and Friday respectively.
The current interbank midrate is:    AUDCAD 1.0010

The interbank range this week has been:    AUDCAD 0.9848 - 1.0014
Tuesday 18th February 3:00PM (NZT)
For most of January this pair traded in a choppy range between 0.9600 and 0.9900. The volatility has continued into February, although the range has moved higher and now the pair seems broadly comfortable trading between 0.9800 and 1.0000. For much of last week it was Australian data that drove the pair, in the form of strong business confidence and then weak employment figures. But on Friday evening the market received much weaker than expected Canadian manufacturing sales and this helped the pair recover from near the weeks low. I suspect we are now close to a medium term top and favour selling into strength around the 1.0000 level. Back in October last year the pair peaked at 1.0048 and I would expect that level to once again provide big resistance on any strength. There is little in the way of Australian data out over the rest of the week, however from Canada we get readings on wholesale sales, inflation, and retail sales.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9930 0.9800 1.0000 0.9830 - 1.0008

Friday 14th February 1:30PM (NZT) - Update
This week has seen volatile price action within a contained range. The moves have primarily been driven by mixed Australian economic news. The AUD materially jumped on stronger than expected business confidence numbers before reversing the moves following yesterday’s soft employment data. So the pair currently sits very close to where it opened on Monday having touched parity in the meantime. Apart from the RBA meeting minutes on Tuesday, the majority of the focus will comes from the Canadian inflation and retail sales numbers on Friday. Expect the CAD to remain under pressure as the BOC does its best to put off any cash rate hikes for as long as possible. The lower levels of the CAD will be of direct benefit to the economy, albeit the effects will take time to wash through into the numbers. Buying of CAD with AUD anywhere around current levels still offers good value from a historical perspective.
The current interbank midrate is:    AUDCAD 0.9877

The interbank range this week has been:    AUDCAD 0.9833 - 1.0001
Tuesday 11th February 3:00PM (NZT)
Last week’s RBA statement caused a material increase in demand for the Australian dollar and this was followed by solid retail sales and trade balance data. The combination of those factors saw the cross to the Canadian dollar trade up through 0.9900, eventually reaching a high of 0.9967. At the end of the week however, Canada surprised with some better than expected data in the form of Ivey PMI and employment figures. This caused the cross to retreat from its highs as the CAD itself benefited from some renewed demand. There seems to be some minor support around 0.9830 and this has contained the pullback so far. However, there is plenty of resistance on the topside which will make gains above 0.9950 tough going for now. We do have key Australian employment data on Thursday and this release could decide the near term direction for the pair.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9970 0.9800 1.0000 0.9696 - 0.9967

Friday 7th February 3:30PM (NZT) - Update
Much of the trading so far this year had seen this pair swinging wildly between 0.9600 and 0.9900. The past five days have seen another sharp move to the topside, although this time 0.9900 could not contain it. The Australian dollar made solid gains in the wake of the RBA statement on Tuesday when the central bank struck a very neutral tone. They also dropped, and reference to the currency being overvalued. This boosted the AUD across the board and decent data yesterday in the form of retail sales and trade balance, saw further gains made. The pair traded up to 0.9967 before Canadian Ivey PMI data last night turned the market around. That PMI data was the first strong reading for Canada for some time and this saw demand for the CAD finally materialize. There is further key data tonight with employment numbers from both Canada and the US set for release. The potential for further wild swings in this pairing is a strong as ever.
The current interbank midrate is:    AUDCAD 0.9900

The interbank range this week has been:    AUDCAD 0.9696 - 0.9967
Tuesday 4th February 3:00PM (NZT)
The AUDCAD is trading almost exactly where it was this time last week. However, between now and then the cross has been up to 0.9847 and back again. The Australian dollar has come under periods of pressure against the CAD due to wider market risk aversion, and then on the back of soft producer prices data. For much of this year the pair has swung wildly between 0.9600 and 0.9900 and these two level are likely to continue to define trade in the near term. The immediate focus now turns to the RBA rate statement out later this afternoon. From Canada this week we have building permits, the trade balance, Ivey PMI, and employment data all set for release.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9709 0.9600 0.9800 0.9701 - 0.9847

Friday 31st January 4:00PM (NZT) - Update
This week has seen this pair completely mirror last weeks price action in reverse. The AUD has fought back to take back all last weeks lost ground. Apart from some respite following the slightly weak Chinese manufacturing numbers, the momentum has all been with the AUD. In the absence of any material economic news in either economy so far, the wider market sentiment changes have driven the moves. The iinitial resistance at .9850 should contain the price action ahead of the Canadian GDP results later on today. After that the focus moves to the RBA on Tuesday, and then the Canadian employment numbers late on Friday next week. 

The current interbank midrate is:    AUDCAD 0.9824

The interbank range this week has been:    AUDCAD 0.9620 - 0.9832
Tuesday 28th January 4:30PM (NZT)
The AUDCAD continues to trade in wild swings between 0.9600 and 0.9900 as it has done for much of the past three weeks. The sharp gains seen early last week in the wake of strong Australian inflation data and the Bank of Canada’s cautious tone at their rate meeting were quickly reversed. The losses came as the AUD was put under pressure from soft Chinese manufacturing data and emerging market concerns. So far support around 0.9600 has contained the weakness and we have seen a small bounce over the last two days. But it would be a big call to say the wild swings are done. We have a US Fed decision later this week along with Canadian GDP data to digest. While from Australia we get readings on new home sales and producer prices.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9745 0.9600 0.9900 0.9592 - 0.9837

Friday 24th January 2:00PM (NZT) - Update
It has been another volatile week for the AUDCAD pairing. For much of the past five days the Australian dollar outperformed the CAD, gaining initially on the back of much stronger than expected inflation data. The Canadian dollar then came under pressure in the wake of the soft tone set by the Bank of Canada at their rate meeting and this drove the cross up to the weeks high. But in the past 24 hours the AUD has suffered after poor Chinese manufacturing data and then emerging market concerns weighed on the currency. The CAD has also benefited from better than expected retail sales number. The pair now sits near the middle of its recent range. The last two weeks have seen big swings in this pair between 0.9600 and 0.9900 and the honest truth is the coming week could well see more of the same price action. From Australia next week we have business confidence, new home sales, and producer prices data to digest. From Canada we get inflation data tonight and the focus will shift to GDP data set for release next Friday.
The current interbank midrate is:    AUDCAD 0.9734

The interbank range this week has been:    AUDCAD 0.9596 - 0.9837
Tuesday 21st January 3:00PM (NZT)
The rollercoaster ride for this pair continued last week. The AUD saw early pressure from the CAD, and the pressure materially increased in the wake of the soft Australian employment numbers. The near term support at .9600 has held for now, but a break of this level would open up the way for further investigations lower. Tomorrow’s Australian inflation numbers provide the focus in the near term ahead of the BOC monetary policy decision. Then comes Canadian retail sales data on Thursday, followed by inflation data on Friday. Expect the volatility to continue for this pair until either or both of the central bank’s monetary policy paths become clearer.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9668 0.9600 0.9800 0.9596 - 0.9840

Friday 17th January 2:00PM (NZT) - Update
There has been a big scrap recently between the Australian and Canadian dollars for the title of worst performing currency. Last week the CAD won hands down after some shocking employment data hit the wires on Friday evening. But this week the AUD take the prize thanks in large part to their own employment data that came out yesterday. The cross now trades very close to where it was this time last week, around the 0.9650 level. But between now and then the pair has been all the way up to 0.9900 and back down again. There is support on the downside at 0.9600 and while above there the focus remains on the topside. But as the last seven days demonstrates this pair can have wild moves at times and picking near term direction is a very tough game. Next week’s Bank of Canada (BOC) rate meeting will be a key focus along with data on manufacturing sales, retails sales, and inflation. From Australia we also have inflation along with consumer confidence data that will be closely watched.
The current interbank midrate is:    AUDCAD 0.9642

The interbank range this week has been:    AUDCAD 0.9596 - 0.9900
Tuesday 14th January 3:30PM (NZT)
Last week was a very tough one for the Canadian dollar. Poor data combined with talk of disinflation from the BOC governor Poloz, and a very negative report from Morgan Stanley, to see the currency under the gun. Things didn’t improve on Friday night with the release of employment numbers form both Canada and the US. Both those releases missed expectations by a long shot and the market reaction was swift. The cross leapt higher as the dual drivers of a weaker CAD and stronger Australian dollar drove prices. There is certainly room for further gains with late Octobers high of 1.0047 within reach. Whether or not the pair attacks that level could come down to Australian employment data on Thursday which provides the major focus for the week.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9828 0.9700 0.9900 0.9520 - 0.9900

Friday 10th January 3:00PM (NZT) - Update
The weakness in the CAD has seen the Australian dollar outperform this week. The support at .9500 was touched early in the week and since then the AUD saw grinding appreciation up towards resistance at .9700, albeit that level has not been seriously tested yet. However in the last few sessions the momentum has started to wane, and this is indicative of the pressure on the AUD in other pairings. The respective employment numbers from Canada later on today, and then Australia Thursday next week provide the near term data focus. The pair does seem increasingly comfortable within the .9500 - .9700 range and it seems likely this will continue in the short term.
The current interbank midrate is:    AUDCAD 0.9650

The interbank range this week has been:    AUDCAD 0.9504 - 0.9663
Tuesday 7th January 2:30PM (NZT)
This pair remains locked in an increasingly familiar range that has established itself over the last month. After initially starting the year off under some pressure from the CAD, the AUD has again bounced of support at .9400 and looks poised to again test resistance at .9600. Today’s Australian trade balance showed a better than expected result and comes ahead of the Canadian trade numbers later on today. Thursday sees the Australian retail sales and building permit numbers come ahead of the Canadian employment numbers late Friday. The CAD suffered across the board today, and a break of the resistance at .9600 would open up the way for another attempt at the topside for the AUD.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9538 0.9400 0.9600 0.9412 - 0.9557

Friday 20th December 1:30PM (NZT) - Update
There has been little in the way of local economic data to provide the lead for this pair so far this week. This has seen the pair trade in an orderly fashion for the most, and within a contain price range for the week. There was a small drop following the Fed’s QE tapering announcement, but this would be expected on a partial surprise such as this. The pair has found some consolidation after the recent CAD outperformance of the AUD. The support around the .9400 level should cushion further AUD softness in the short term. The immediate focus now becomes the Canadian inflation and retail sales data due later on today. Also of note will be the latest Canadian GDP numbers that are due for release on Monday. Potentially the lower levels of liquidity over the holiday period could lead to some sharp moves at times, as is normal at this time of year.
The current interbank midrate is:    AUDCAD 0.9454

The interbank range this week has been:    AUDCAD 0.9423 - 0.9515
Tuesday 17th December 2:00PM (NZT)
The Canadian dollar performed well last week despite the lack of any key data releases. The opposite can be said for the Australian dollar that struggled to gain any traction even after better than expected employment numbers. The AUD was weighed on by comments from RBA Governor Stevens and this saw the cross to the CAD trade down towards 0.9500. Further losses have occurred since as the CAD has continued to outperform the AUD with the pair testing 0.9450. The rest of the week will be dominated by the market’s reaction to the Fed announcement on Thursday morning our time. There is a lot of risk around this event as the market has no idea what the Fed is likely to do, and so we could get bog reaction either way. From Canada we also have manufacturing sales, wholesale sales, inflation, and retail sales all set for release
  Current Level Support Resistance Last week's range
AUD/CAD 0.9452 0.9400 0.9600 0.9448 - 0.9727

Friday 13th December 2:30PM (NZT) - Update
The start of this week saw this pair trade in moribund fashion up around the resistance at .9720. However, what has turned out to be substantial pressure came as the US congressional funding agreement was passed, and the expectations of FED tapering increased. The 9550 level offered some initial support, but the pressure seen yesterday following RBA Governor Stevens comments has seen the support at .9500 under increasing pressure. So the wild ride continues for this pair and it can be expected to continue in the coming months as the wider markets are driven by the prospects of not only changes to US Fed monetary policy, but also leadership. Whether or not the .9500 support can hold will be the driver for direction in the near term. Next week will see the RBA monetary policy meeting minutes on Wednesday offer some focus ahead of the Canadian inflation and retail sales numbers on Friday. However, the primary driver will continue to the goings on at the Federal Reserve in the US.
The current interbank midrate is:    AUDCAD 0.9515

The interbank range this week has been:    AUDCAD 0.9489 - 0.9727
Tuesday 10th December 2:00PM (NZT)
It has been an interesting last week for this pair. The soft Australian GDP numbers undermined the demand for the AUD for a number of sessions. However the pressure on the AUD was not to last, and it ground back from support at .9620 and oddly, sentiment really increased following the strong US employment numbers on Friday. The pair now finds itself in a comfortable .9620 -.9720 range for the time being. The focus in the near term will come from the Australian employment numbers on Thursday, ahead of the latest Canadian housing numbers and speech form BOC Governor Poloz on Friday morning Australasian time.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9670 0.9600 0.9800 0.9602 - 0.9748

Friday 6th December 3:00PM (NZT) - Update
We have seen some violent moves in this pair over the course of the week. After starting the week positively the Australian dollar came under intense selling pressure in the wake of the RBA statement and again after GDP data. The latter saw this pair lose in excess of 100 points in a reasonably short time frame. The Canadian dollar itself has come under a little pressure after the Bank of Canada projected a very cautious tone at the rate meeting, and this has helped the pair stabilize above 0.9620 for the time being. Tonight’s US employment data could have a big impact, as the fortunes of Canada are closely tied to those of their neighbor and biggest trading partner. This release will likely set the tone heading into next week when we get business confidence, consumer sentiment, and employment change data from Australia. From Canada there is only housing data, capacity utilization, and a speech by governor Poloz to draw focus.
The current interbank midrate is:    AUDCAD 0.9653

The interbank range this week has been:    AUDCAD 0.9602 - 0.9746
Tuesday 3rd December 2:30PM (NZT)
This pair was pushed to eight week lows last week, as the AUD succumbed to further broad based weakness. The partial recovery came after the improved Australian capital expenditure numbers, and again was boosted further by the better than expected Chinese Manufacturing numbers over the weekend. The direction in the near term will come from the respective monetary policy statements due this week. Later on today it is the turn of the RBA ahead of the BOC on Wednesday. Expect the RBA to continue its lip service towards a lower AUD, whilst leaving the cash rate on hold at 2.50%. Expect no change from the BOC either, although again the statement will be closely watched. Barring a major surprise from the data, expect the current .9600 -.9800 range to contain the weeks price action. Australian GDP tomorrow and trade balance on Thursday will be closely watched. In Canada the latest building and PMI numbers on Thursday come ahead of the important employment numbers on Friday.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9685 0.9600 0.9800 0.9590 - 0.9731

Friday 29th November 3:30PM (NZT)
The Australian dollar has struggled this week with a continuation of the negative sentiment that drove the currency sharply lower last week. Losses against the Canadian dollar have however been much less dramatic this week as the CAD itself has come under some pressure. Some very average current account figures have highlighted the difficulties the currency faces going forward. However, the CAD does benefit to a degree from optimistic signs coming from the US. The AUD got a boost from decent capital expenditure data yesterday, but this was short lived and the pair has since given back much of the ground it gained. There is plenty of data from Australia next week to provide direction with building approvals, retail sales, the RBA rate statement, GDP, and the trade balance all set for release.  From Canada there is also raft of key data set to hit the wires. The trade balance, Bank of Canada rate statement, building permits, Ivey PMI, and employment change could all impact the currency.
The current interbank midrate is:    AUDCAD 0.9609

The interbank range this week has been:    AUDCAD 0.9586 - 0.9688
Tuesday 26th November 4:30PM (NZT)
The Australian dollar was under pressure on most crosses last week and this was dramatically represented by its fall against the CAD. From highs of 0.9873, the pair headed south to trade at 0.9638 early yesterday. There has been little in the way of a significant bounce and this leaves the risks skewed to the downside. Any potential recovery should run into resistance around 0.9730 and I would expect this to cap the topside this week. The only domestic data of note from Australia this week is private capital expenditure figures on Thursday. While from Canada later this week we have current account and GDP data to digest.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9675 0.9650 0.9850 0.9692 - 0.9873

Tuesday 19th November 2:30PM (NZT)
This pairing has been locked in a very contained trading range over the the last week. The AUD saw some initial pressure from the CAD before consolidating and seeing a little grinding appreciation in to the end of the week. Consolidation back through the initial resistance at .9800 was a step too far, and the pair again finds itself back towards the middle of its recent range. Today’s RBA monetary policy meeting minutes saw little new material offered. The AUD remains at elevated levels according to RBA models and a lower dollar would help with the rebalancing of the Australian economy away from reliance on the mining sector for investment. From here the focus moves to the Canadian economic data on Friday with inflation and retail sales numbers to provide the fun.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9786 0.9650 0.9850 0.9729 - 0.9808

Friday 15th November 2:00PM (NZT) - Update
It has been another curious week of retracement from the recent highs for this pair. The downward bias from the second half of last week continued on Monday and Tuesday. There was no key driver of this apart from generally lower sentiment in the wider markets.  The pair pushed down to the support around 0.9730 before influence from the US took over. The testimony from incoming Fed Chair Yellen boosted the prospects for the AUD. This was because of her apparent commitment to the Fed’s QE program. The last 48 hours has seen the pair bounce around sideways above 0.9730, and as long as this level holds we could see some retracement higher. A move below 0.9730 though would likely signal there is more downside to come. Next week the Canadian data late in the week will dominate the domestic focus for this pair. The important inflation and retail sales data providing further insight to conditions in the Canadian economy. From Australia we have the RBA minutes on Tuesday to draw focus.
The current interbank midrate is:    AUDCAD 0.9766

The interbank range this week has been:    AUDCAD 0.9736 - 0.9841
Tuesday 12th November 2:30PM (NZT)
AUD gains in the early part of last week for this pair were quickly reversed on the back of soft Australian employment data. The downside price action continued as US GDP surprised on the strong side and then again on Friday night employment numbers from both Canada and the US hit the wires. The Canadian result was less spectacular than that of the US, but positive US data will always underwrite the CAD to a degree and that was certainly the outcome late last week. The risks are all still skewed to the downside with the pair now trading back below 0.9800. From Australia this week we have consumer sentiment, wage price index, and inflation expectations set for release. While a Canadian holiday today means we have a very quiet week data wise with only the trade balance and manufacturing sales out towards the end of the week.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9780 0.9750 0.9950 0.9778 - 0.9966

Friday 8th November 2:00PM (NZT) - Update
For much of the week the Australian dollar was appreciating against the Canadian currency. Recent soft data from Canada has seen the central bank move away from a tightening bias and early this week that average data continued. But yesterday morning the pair turned around on the back of a strong Purchasing Managers Index reading from Canada. A few hours later we got Australian employment data that was very disappointing, and the cross headed south again, this time on the back of AUD weakness. Since then we have seen some choppy price action as markets jumped around after US GDP data was released. Direction is a tough call from here, however the risks are skewed to a move back toward support at 0.9830. Next week is relatively light on economic news from Australia with Tuesday’s NAB business confidence data offering the primary focus. From Canada we have the trade numbers on Thursday, and manufacturing data on Friday.
The current interbank midrate is:    AUDCAD 0.9870

The interbank range this week has been:    AUDCAD 0.9841 - 0.9966
Tuesday 5th November 1:30PM (NZT)
The Australian dollar finally saw some pressure from the recently beleaguered CAD last week. The inability to consolidate above parity saw the pair push fairly quickly down to test the initial support at .9900. However, the pressure has not been maintained, as better than expected news in China (AUD positive) and strong retail sales numbers in Australia has seen the AUD recover some of its lost ground to the CAD. The RBA monetary policy announcement later on today provides the near term focus in what is a busy week for news in both economies. Thursday sees the latest Australian employment numbers, ahead of the quarterly RBA Monetary Policy statement on Friday. From Canada we get the industry wide purchasing managers index and building permits on Wednesday and the monthly employment stats on Friday. In the context of the recent more positive news from Australia, it is hard to see a large period of weakness in the short term. However, considering the elevated current levels, the resistance around the parity level should prove a bridge too far, even in the event of increased AUD demand this week.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9912 0.9850 1.0050 0.9831 - 1.0047

Friday 1st November 3:00PM (NZT) - Update
After trading to recent highs at the start of this week this pair has turned around and put in nearly 200 points of losses. Comments from RBA Governor Stevens on Tuesday helped the initial leg lower as the Australian dollar came under selling pressure. The latest leg down however is largely on the back of strength in the Canadian dollar on the back of better than expected Canadian GDP. The CAD has been a poor performer over the last couple of months, but looks to perhaps have turned the corner in the last 48 hours. If this is indeed the case there could be more downside action for this pair as the CAD outperforms the AUD in the near term. Next week from Canada we have building permits data, business diffusion index, housing starts, and employment numbers to digest. While from Australia we have retail sales, the RBA rate statement, trade balance, and employment data.
The current interbank midrate is:    AUDCAD 0.9877

The interbank range this week has been:    AUDCAD 0.9854 - 1.0047
Tuesday 29th October 3:00PM (NZT)
For much of the past week this pair continued to strengthen trading up to a high of 1.0047 yesterday. Since then however, we have seen a sharp reversal. The latest leg lower comes on the back of RBA Governor Stevens who has done his best to talk the AUD lower in the last few hours. We may well now have seen a medium term top put in place at 1.0047, and I wouldn’t be surprised to see a much deeper correction targeting 0.9800 initially. Looking at the bigger picture, this pair has staged a phenomenal run from below 0.9200 at the beginning of August up to recent highs. It is well overdue for a corrective pullback and the sharp reaction from about 1.0000 suggests that is now underway. Later this week from Australia we have building approvals, new home sales, and producer prices data to digest. While from Canada we hear from BOC governor on Wednesday and have GDP data on Friday.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9965 0.9850 1.0050 0.9917 - 1.0047

Friday 25th October 1:30PM (NZT) - Update
It has been a very choppy week for the Australian dollar against the Canadian currency. Conflicting forces in the form of soft US employment data, concerns about the Chinese banking system, and a downbeat tone from the Bank of Canada (BOC) all played their part in creating some big swings for the pair. The net result however, is that the cross remains well supported, trading near its highs at 1.0010. The last few weeks have seen a stellar run higher for this pair and momentum looks to be far from waning. With key support now at 0.9950, as long as the pair holds above there the focus is still on the topside. It is however very overbought and potential for a sharp correction is increasing. We could easily seem more wild swings in price action over the coming week. Key data out of Canada next week will be their GDP figures on Friday night. While From Australia we get new home sales, building approvals, private sector credit, and producer prices.
The current interbank midrate is:    AUDCAD 1.0005

The interbank range this week has been:    AUDCAD 0.9817 - 1.0034
Tuesday 22nd October 2:20PM (NZT)
This pair has put in an impressive recovery since the beginning of August. Further gains were seen last week in the wake of the temporary solution to the US political standoff. Expectations of a downgrade to economic forecasts by the Bank of Canada (BOC) this week have also weighed on the CAD and helped the cross to its 0.9964 high so far. We have seen limited pullbacks in price action last week and this suggest further topside pressure. However, the pair has now approached a key area of resistance and I would not be surprised to see a significant top put in place somewhere between 0.9950 and 1.0000. At the very least further gains will prove tough going from here. However I tend to feel the pair is due a correction lower to at least 0.9800 and it is starting to look very overbought around current levels. Australian inflation data on Wednesday will draw focus, but the key event could well be the BOC monetary policy decision on Thursday morning.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9948 0.9750 0.9950 0.9815 - 0.9964

Friday 18th October 2:00PM (NZT) - Update
The Australian dollar has materially outperformed the Canadian dollar this week helped by minutes from the RBA that confirmed they are on hold for the time being. A return of positive risk sentiment after a deal in the US was reached has also benefited the AUD. And then last night when a wave of USD selling swept through the market the AUD was a big gainer. The cross has now traded up to 0.9929 and although it still looks well supported, gains from here will prove a lot tougher. There is big resistance around 0.9950 and I don’t expect this to be overcome easily, if at all in the near term. Tonight from Canada we get inflation data that will be closely watched and next week we have wholesale sales, retail sales, and the Bank of
The current interbank midrate is:    AUDCAD 0.9900

The interbank range this week has been:    AUDCAD 0.9761 - 0.9929
Tuesday 15th October 2:20PM (NZT)
The resurgent nature of the AUD over the CAD has continued for the most part over the last week. The primary influence continues to be the US political debacle. The only material waves of weakness have come when it looks less likely of a solution coming to the fore. The US political arena will continue to be of primary influence as the pair attacks resistance around 0.9860. A move above there could open the way for gains to 0.9950. Later this week from Australia we get business confidence data and a speech from RBA Governor Stevens to focus on. While from Canada we get manufacturing data and inflation.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9850 0.9720 0.9920 0.9695 - 0.9858

Friday 11th October 12:00PM (NZT) - Update
It has almost been all one way traffic for this pair over the last five days. The Australian dollar has made continued gains against the Canadian dollar and now trades near four month highs. We did get a sharp pull back yesterday after Australian employment data disappointed but it was short lived. Overnight there has been talk of a potential deal between Republicans and President Obama to temporarily lift the debt ceiling. This caused the AUD to regain all the ground it lost against the CAD yesterday. If the up trend continues a test of resistance towards 0.9950 could be on the cards. Developments in the US will continue to play a big part with a deal still less than certain. From Canada next week we have manufacturing sales and inflation data to digest. While from Australia we get minutes from the latest RBA meeting along with data on home loans and motor vehicle sales.
The current interbank midrate is:    AUDCAD 0.9835

The interbank range this week has been:   AUDCAD 0.9695 - 0.9843
Tuesday 8th October 2:15PM (NZT)
The AUD saw periods of increased demand against the CAD last week. The US Government funding debacle will have undermined the CAD to a certain extent, and eased the way for the AUD move higher. However, the resistance at .9750 managed to contain the AUD appreciation. The Petronas CAD investment news is significant (36 billion CAD worth), but the impact has been limited so far. After today’s Australian business confidence numbers, the respective employment data provides the focus for the remainder of the week. Expect the range bound price action to continue in the short term at least. Certainly with the interbank level above .9700, current levels look to offer good value buying of CAD.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9736 0.9550 0.9750 0.9603 - 0.9764

Friday 4th October 2:00PM (NZT) - Update
Like most Australian dollar crosses, the AUDCAD gained good ground as the AUD strengthened in the wake of the RBA statement on Tuesday. Although some of those gains were retraced after soft building consents and trade balance data on Wednesday, the pair has managed to grind back up to recent highs. Resistance around 0.9730 has so far capped the pair but looks to be coming under renewed pressure. A move above there would open the way for broader gains toward 0.9900. Early tomorrow morning from Canada we get the results from a survey of purchasing managers and next week we have building permits, trade balance, and employment data to digest. While from Australia next week we have consumer sentiment, business confidence and employment data set for release.
The current interbank midrate is:    AUDCAD 0.9728

The interbank range this week has been:    AUDCAD 0.9572 - 0.9729
Tuesday 1st October 2:15PM (NZT)
A weakening Australian dollar and some healthy Canadian data has kept this cross under pressure for much of the past week. It traded down to a low of 0.9572 in the early stages of Monday, however since then we have seen a small recovery as the debt ceiling stalemate in the US has weighed on the CAD a touch. Key to near term direction will the RBA monetary policy statement later this afternoon. The language in that statement could well set the tone for the AUD over the rest of the week. We also have building approvals and trade balance data from Australia tomorrow, while from Canada the only other data is a survey of purchasing managers out on Saturday morning.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9610 0.9550 0.9750 0.9572 - 0.9695

Friday 27th September 2:00PM (NZT) - Update
It has been a quiet week for this pair, with action contained with a 100 point range. The week’s high of 0.9725 traded on Monday after solid Chinese manufacturing data gave the Australian dollar a boost. Since then as the AUD drifted lower so did this pair, then the low of the week traded after somewhat better Canadian retail sales numbers hit the wires which lent support to the CAD. There has been little overall direction however, and we can expect that to continue heading into next week which could easily hold some surprises. A lot of attention will be on the US debt ceiling debate, but we also have the RBA interest rate decision and statement to digest. From Canada there is GDP on Tuesday and Purchasing Managers Index on Friday to draw focus.
The current interbank midrate is:    AUDCAD 0.9658

The interbank range this week has been:    AUDCAD 0.9628 - 0.9725
Tuesday 24th September 2:00PM (NZT)
The Australian dollar snapped higher against the Canadian dollar in the wake of the Fed’s ‘no-taper’ announcement last week. Since then we have seen the pairing give back most of its gains as the AUD has come under some pressure and the Canadian dollar has been supported by some better than expected data. The cross looks like it might test back down to support around 0.9650. Reaction at that level will be key for near term direction. Any sustained move below there would leave the pair vulnerable to further losses initially targeting 0.9550. But if support at 0.9650 can hold then the cross could mount another attempt back up to the highs over 0.9700. With only retail sales set for release from Canada this week and the RBA financial stability report from Australia, direction may well come from the wider market.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9680 0.9550 0.9750 0.9594 - 0.9740

Friday 20th September 2:00PM (NZT) - Update
The Australian dollar continued to grind higher against the CAD ahead of the crucial FED monetary policy meeting this week. Balanced meeting minutes from the RBA helped maintain the increase for the most part, with solid Canadian manufacturing numbers serving to temper the momentum. The surprise FED decision not to initiate QE tapering gave the AUD a material boost higher again. The wider market was swept by risk appetite and as this enthusiasm continues, further gains for the pair can be expected. The lead will really be dependent on the ongoing digestion of the situation in the US. Canadian inflation numbers later on today will be closely watched. Next week sees the Monthly retail sales numbers in Canada on Tuesday provide some focus ahead of the RBA Financial Stability Review on Wednesday, which should be of limited impact. It seems likely that any further gains from the current levels would be much harder fought from the AUD.
The current interbank midrate is:    AUDCAD 0.9716

The interbank range this week has been:    AUDCAD 0.9594 - 0.9733
Tuesday 17th September 2:00PM (NZT)
The AUDCAD was struggling up against resistance at 0.9640 last week, when the poor Australian employment numbers saw it quickly lose ground. The lows of 0.9528 traded in the wake of that data and the pair was subdued heading into the weekend. But the surprise announcement yesterday morning that Larry Summers was withdrawing from the race to replace Bernanke as Fed Chairman saw the Australian dollar materially outperform the CAD. The pair even briefly traded up through 0.9640 reaching 0.9669, before pulling back to near 0.9600. We can expect some sideways trade ahead of the Fed’s tapering announcement on Thursday. That could be key for the pairs near term direction as the fortunes of the Canadian dollar are closely tied to those of the US.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9607 0.9440 0.9640 0.9457 - 0.9642

Friday 13th September 2:00PM (NZT) - Update
It has been a very interesting week for this pair. The AUD saw grinding appreciation to start the week, as the USD dragged the CAD lower on the back of Russian led to the Syrian situation. Unsurprisingly, the appreciation was capped at the important .9650 level, and then came the release of the disappointing Australian labour market numbers. These saw the AUD reverse all of its previous gains, and some.  Overall direction from the current levels is unclear and will probably be reliant on the hugely important FED monetary policy announcement on Wednesday next week. Initial support comes in at .9520 if we see some further AUD weakness, and .9480 below there. Next week’s sees little in the way of economic news in either economy, so expect the drivers to be FED led for the most part, assuming that the Syrian situation continues to defuse.
The current interbank midrate is:    AUDCAD 0.9567

The interbank range this week has been:    AUDCAD 0.9457 - 0.9642
 
Tuesday 10th September 2:00PM (NZT)
After making good gains on the back of Australian dollar strength in the first half of last week, this pairing lost momentum as the Canadian dollar gained some support. This was helped on Friday night by better than expected Canadian employment data and yesterday’s strong building consents. The pair now trades around 0.9585. Recent highs at 0.9642 provide the first line of resistance and this should cap the topside for now. There is support on the downside at 0.9530 and then again at 0.9440. From Australia this week we have business confidence, consumer sentiment, and employment figures to drive price action. While from Canada we have house price data and capacity utilization to focus on.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9590 0.9440 0.9640 0.9457 - 0.9642
 
Friday 6th September 2:00PM (NZT) - Update
This week has seen the AUD materially outperform the CAD, albeit the momentum has waned in the last few sessions. The paring back of further easing expectations from the RBA has combined with better Chinese data, and lower global risk aversion to ease the move higher for the pair. The final focus for the week comes later on today when the latest Canadian employment and PMI numbers are released. Next week sees the Australian employment numbers on Thursday offer the primary focus for this pair. Canadian building permits on Tuesday will be closely watched, but should be of limited impact. Its seems likely that the resistance at .9650 will halt any further AUD appreciation in the short term at least, with the .9350 -.9650 wider range likely to contain the price action in the coming week.
The current interbank midrate is:    AUDCAD 0.9575

The interbank range this week has been:    AUDCAD 0.9403 - 0.9642
Tuesday 3rd September 4:00PM (NZT)
The Australian dollar struggled against the CAD at the beginning of last week. Wider market risk aversion was attributable for the weakness, and after setting the lows the pair ground back to partially make up the lost ground. Following the positive weekend Chinese manufacturing numbers, a further recovery has been made. The pair currently sits close to the weeks highs. The focus for the remainder of the week will be intense for this pair. Australian building approval and retail sales numbers have balanced each other out with the building approvals stronger, and the retail sales again underperforming. Later on today the RBA make their latest monetary policy announcement. No change is expected, but look for the statement to leave the door open for further easing to the cash rate if required. In Canada there is a host of data due for release this week. The trade numbers and BOC monetary policy announcements come on Wednesday and employment and purchasing manager’s survey on Friday. The pair is close to resistance at .9530, and this remains the crucial level on the short term.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9484 0.9330 0.9530 0.9337 - 0.9504

Friday 30th August 2.00PM (NZT) - Update
For the most part this week the AUDCAD has been driven by movements in the Australian dollar. As the AUD came under pressure in the early half of the week on the back of widespread risk aversion, the cross to the Canadian dollar traded down to its low of 0.9329. We saw a strong bounce off that low on Wednesday night, as poor US pending home sales data sparked a good bounce in the AUD. In the last 24 hours the CAD has lost some ground as the market gets positioned ahead of key GDP data out of Canada tonight. That data could well dictate near term direction. There is support around 0.9330 and resistance towards 0.9530. Expect those levels to contain trading into the early part of next week before we get results from the RBA policy meeting and the BOC rate announcement.
The current interbank midrate is:    AUDCAD 0.9417

The interbank range this week has been:    AUDCAD 0.9329 - 0.9527
Tuesday 27th August 4:00PM (NZT)
A recent run of poor Canadian data combined with last week’s better data on Chinese manufacturing saw the Australian dollar trade up to just over 0.9528 against the CAD. We have seen a sharp reversal from there however over the past 24 hours. The latest leg down was caused by rumours of a US strike on Syria that caused some risk aversion and selling of the AUD. The pair now trades around 0.9440 and there is good support coming in below 0.9400. It seems likely that any strike on Syria would be very limited and hence I suspect the current weakness could also be short lived. This should see the pair back up towards 0.9500. This week from Australia we get data on construction output, capital expenditure, and private sector credit. While out of Canada we get current account data out on Thursday night, and GDP data released Friday night.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9450 0.9330 0.9530 0.9355 - 0.9527

Friday 23rd August 2.00PM (NZT) - Update
The early part of the week saw this pair lose ground as the Australian dollar was coming under pressure from a resurgent USD. The Canadian dollar performed much better during that USD strength and that saw the AUDCAD trade to its week’s low of 0.9355. However, as the week progresses we has some soft numbers out of Canada which saw the CAD start to struggle. This combined with an AUD that found support from some better Chinese manufacturing number to see the pair recover most of its losses. Currently trading around 0.9500 the cross may well have another attack on resistance at 0.9530. A move above there would be a positive sign and would open the way for a move back up toward 0.9630. Tonight from Canada we get inflation data while next week see current account and GDP data set for release. From Australia next week we have data on construction, home sales, private sector credit, and private sector expenditure to digest.
The current interbank midrate is:    AUDCAD 0.9516

The interbank range this week has been:    AUDCAD 0.9355 - 0.9528
Tuesday 20th August 3:00PM (NZT)
Although the AUDCAD has seen a decent range over the past week there has been little in the way for real direction. The pair is currently trading at a similar level to where it was this time last week. Some relative outperformance by the Australian dollar late last week saw the cross to the Canadian dollar trade up to resistance around 0.9530 on Friday. It opened this week at the same level, but quickly fell away to currently trade near 0.9440. Expect more directionless trade in the near term with the risk being a test lower toward 0.9330. Towards the end of the week we get Canadian retail trade and inflation data, both of which will be closely watched.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9423 0.9330 0.9530 0.9378 - 0.9535

Friday 16th August 2.00PM (NZT) - Update
This pair has seen a relatively contained range this week. Both currencies have had an air of vulnerability in recent times, and this has helped contain the pairs range. The AUD came under initial pressure this week, before grinding to back to regain lost ground through the middle stanza. However, last night saw periods of  increased volatility in all markets, and the AUD gave up the majority of its modest gains. Next week the initial focus comes from the RBA monetary policy meeting minutes on Tuesday. These come ahead of the Canadian retail sales  and inflation figures on Thursday and Friday respectively.
The current interbank midrate is:    AUDCAD 0.9422

The interbank range this week has been:    AUDCAD 0.9378 - 0.9482
Tuesday 13th August 3:00PM (NZT)
The Australian dollar spent much of last week recovering off recent lows to the Canadian dollar near 0.9200. That recovery was helped by a slightly more neutral statement from the RBA after their 25 point rate cut, as well as by better economic data coming out of China. At the same time the Canadian dollar was on the back foot thanks to some less than spectacular economic news. The negative news culminated in a big miss for employment data released on Friday. The high for the week at 0.9487 traded in the hours after those employment numbers hit the wires. Since then we have seen the pair drift lower to currently trade near 0.9390. Support comes in around 0.9330 and as long as the pair holds above there a period of consolidation can be expected. The topside should be capped by resistance at 0.9530 in the near term. There is very little out of Canada until the end of the week when we get the Bank of Canada (BOC) review and manufacturing sales. From Australia we have consumer sentiment tomorrow, then later in the week we get wage price index and inflation expectations.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9410 0.9330 0.9530 0.9224 - 0.9487

Friday 9th August 2.00PM (NZT) - Update
The Australian dollar has finally found some relief this week, in no small part thanks to some improved Chinese data. Its performance against the CAD has been aided by the weak Canadian news, and surprising vulnerability of the USD. It looks like the pair maybe starting to establish a new range. Given the increased volatility expected in the coming months as the FED approaches tapering its QE program, expect a wider trading band to be established. Solid support at .9200 looks to be in place, while at this stage the wider topside resistance looks to be coming in around .9600. Next week is a fairly quiet once for top tier economic news in either economy, but the Canadian manufacturing data on Friday offers the primary focus. For the most part the lead will come from the wider markets appetite for risk.
The current interbank midrate is:    AUDCAD 0.9408

The interbank range this week has been:    AUDCAD 0.9205 - 0.9467
Tuesday 6th August 1:45PM (NZT)
This pair lost a lot of ground in the early part of last week. This was in response to RBA Governor Stevens’ speech which help to cement expectations of a 25 point rate cut from the RBA at this afternoon's meeting. However, unlike most other AUD pairings, the AUDCAD has failed to kick on to the downside instead consolidating in sideways trade for much of the past four trading days. This is due to the fact that the Canadian dollar has kept pace with AUD weakness recently. The CAD traded very heavily after the softer than expected US employment report. This is because expected rate hikes in Canada next year are closely tied to the performance of their biggest neighbour, the US. There is plenty of data out of Canada this week to liven things up including trade balance, building permits and their own employment figures on Saturday morning. We also have Australian employment data on Thursday to digest.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9230 0.9150 0.9350 0.9174 - 0.9442

Friday 2nd August 2.00PM (NZT) - Update
The AUD has seen concerted pressure from the CAD this week. The .9300 level did provide an element of support for time, and now this level represents the initial resistance should we see any real bounce from the AUD. Expect the AUD vulnerability to continue in the short term at least, and the initial target comes in the form of support at .9200. Next week will see further volatility, with a host of news for both economies. Of primary focus will be the RBA monetary policy decision on Tuesday (expect 25pt cut to 2.50% cash rate), and the employment numbers Thursday. In Canada the manufacturing numbers Wednesday, and employment numbers on Friday will offer further insight. At this stage the downside momentum for the AUD remains in place across the board, further moves from the current three year lows seem likely for this pair.
The current interbank midrate is:    AUDCAD 0.9213

The interbank range this week has been:    AUDCAD 0.9174 - 0.9531
Tuesday 30th July 4:45PM (NZT)
The volatility continues for this pair. Last week saw the reasonable retail sales number in Canada provide support for the CAD. This CAD support placed initial pressure on the AUD, before the wider market sentiment saw the AUD recover into the end of the week. This week has been a different story. The AUD has seen periods of strangely intense pressure and this has been accentuated by comments from the RBA Gov, this afternoon. Comments such as the “recent fall in the AUD makes economic sense” are very much aimed at further undermining demand for the AUD. Expect the volatility to remain in place for the remainder of the week. Monthly Canadian GDP numbers will be closely watched, but the primary focus will be the news coming from the US FED’s monetary policy decision. Given the AUD sits at three year lows against the CAD, its air of vulnerability looks to remain in place for some time yet.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9337 0.9300 0.9600 0.9337 - 0.9593

Friday 26th July 2.00PM (NZT) - Update
After a quiet start to the week this pair headed lower thanks to a combination of strong Canadian retail sales that boosted demand for the CAD, and poor Chinese manufacturing data that saw the AUD under pressure. The cross traded to a low of 0.9419 yesterday. Overnight we saw some broad based selling of USD after some softer than expected data. That helped to weaken the CAD a little, and the AUD has regained some of the lost ground.
The recovery has stalled at the first level of resistance around 0.9520, and in doing so keeps the focus on the downside for now. Next week sees GDP figures out of Canada while from Australia we have building approvals, new home sales and producer prices data.
The current interbank midrate is:    AUDCAD 0.9527

The interbank range this week has been:    AUDCAD 0.9419 - 0.9593
Tuesday 23rd July 3:00PM (NZT)
After recovering off its cycle lows early last week the AUDCAD ran out of steam at 0.9645, and retraced back to 0.9500. We have seen a slow drift sideways since then, with a small upside bias thanks to some relative strength in the Australian dollar. The pair looks like it may test a bit higher again in the near term with an attempt of initial resistance now coming in around 0.9610. A break above there would open the way for gains to 0.9750, however this pair has struggled on any bouts of strength the last two months. It would take a big effort to overcome 0.9610 in the near term. With key inflation data out of Australia tomorrow, I expect that level to cap the topside until then. Canada does have retails sales data out tonight which could impact, but that’s pretty much it on the data front.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9580 0.9500 0.9700 0.9488 - 0.9645

Friday 19th July 12.00PM (NZT) - Update
The AUDCAD started the week on the front foot recovering some of the previous week’s losses. Strength in the pair was aided by the RBA minutes that seemed to make a rate cut at the next meeting less likely. The cross shot up to trade over 0.9600. It was slowly drifting off those highs heading into the Bank of Canada (BOC) interest rate decision. As expected there was no change from the BOC, however  the accompanying statement seem to push back any expectation of a rate hike this year, and as a result the CAD came under some pressure. This saw the AUDCAD touch its highs of the week at 0.9645. Those levels couldn’t be sustained however, and AUD sellers yesterday helped to push the pair back down to 0.9510. The failure to hold onto gains above 0.9600 keeps the immediate focus on the downside. There is some minor support just below 0.9500 and move below there would likely signal a test of recent cycle lows is on the cards. Key topside resistance now comes in around 0.9625 and only a move over that level takes the pressure off the downside. Next week’s key data comes in the form of Australian inflation and Canadian retail sales.
The current interbank midrate is:    AUDCAD 0.9517

The interbank range this week has been:    AUDCAD 0.9412 - 0.9645
Tuesday 16th July 3:30PM (NZT)
The Australian dollar saw considerable pressure from the CAD in the latter half of last week.  The plunge in Friday was of particular significance as the support at .9500 was broken. However, yesterday’s on expectation Chinese GDP data has calmed nerves and consequently the AUD demand has improved. The just released RBA minutes were not as “dovish” as the market expected and this has seen the pair recover through that .9500 level. With a seemingly lower chance of further easing to the cash rate in the short term, there appears to be room for a little further AUD appreciation from current levels. Australian business confidence numbers on Thursday round out the Australian focus for the week. In Canada there are manufacturing numbers, the BOC monetary policy announcement, and retail sales up for release this week. Holding above .9500, should see the pair consolidate within the .9500-.9700 range in the short term.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9558 0.9500 0.9700 0.9353 - 0.9696

Friday 12th July 2:45PM (NZT) - Update
The AUDCAD spent the first part of the week trading positively thanks in part to some AUD strength. That all changed quickly though, as the CAD outperformed the AUD thanks to a number of factors. Strong data out of Canada on building permits and housing starts helped the CAD demand,  as did an upgrade by the IMF on the outlook for Canadian growth. The AUD came under pressure as a result of very soft Chinese trade data, and a rumour of a poor upcoming China GDP figure. Those factors have seen the pairing trade down through support at 0.9550 and it is currently testing recent lows at 0.9482. This leaves the pair looking very vulnerable and a break lower is a very real possibility. The 0.9550 level will now provide resistance on any up move and while below there the risk is all to the downside. Data out of Canada to watch next week includes manufacturing sales, the Bank of Canada rate announcement, and inflation. While in Australia we have business confidence and minutes from the last RBA policy meeting.
The current interbank midrate is:    AUDCAD 0.9493

The interbank range this week has been:    AUDCAD 0.9482 - 0.9696
Tuesday 9th July 4:00PM (NZT)
Movements in the Australian dollar had been driving this pair for much of last week. However, on Friday night we got the release of Canadian employment data that come in a fair bit stronger than expected. This saw the CAD materially outperform the AUD as it coupled with the US employment data that also beat expectation. The pair fell around 100 points during that session, but has since recovered a good portion of those losses. This leaves direction less than clear, with more choppy trade expected. It could well be up to key Australian data this week to decide near term direction. To that end we have consumer confidence and employment.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9635 0.9550 0.9750 0.9511 - 0.9714
 
Friday 5th July 2:45PM (NZT) - Update
Movements in the Australian dollar have been driving this pair this week. As the AUD came under pressure following the RBA decision, the AUDCAD touched its week’s low at 0.9511, before putting in a decent bounce. Near term direction is a tough call as this pair has been bouncing around in a 300 point range over the last three weeks or so. Whether this is just a consolidation of the broader downtrend of the last three months remains to be seen. A move back below 0.9550 would likely signal the downtrend is still in play, and further losses could be expected. However a move up through 0.9750 would signal the opposite, and a broader corrective rally could develop. Key will be tonight’s employment data out of both Canada and the US.
The current interbank midrate is:    AUDCAD 0.9619

The interbank range this week has been:    AUDCAD 0.9511 - 0.9714
Tuesday 2nd July 3:00PM (NZT)
For most of last week the AUDCAD pair traded sideways between 0.9700 and 0.9750. But on Friday as another round of USD strength hit the market. Following this the CAD outperformed the AUD, and the cross sank to briefly trade just under 0.9600. In the early part of this week as the AUD has recovered, so has this pair, and it now trades back up over 0.9700. Some better manufacturing data out of Australia yesterday has helped and the market now awaits the RBA rate decision today. No change in interest rates is expected, however the accompanying statement will be closely scrutinized for clues as to the timing of the next potential rate cut. Later in the week there is data on Australian retail sales and trade balance as well as building approvals.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9391 0.9600 0.9800 0.9591 - 0.9785

Friday 28th June 3:15PM (NZT) - Update
For most of this week the AUDCAD has traded sideways in a 0.9680 - 0.9780 range, with little real direction. It’s currently testing the bottom of that range but it’s hard to get excited about a breakout. Any move is likely to come on a surprise result for Canadian GDP out early tomorrow morning. Until then expect more of the same range trading. Next week we get more Canadian data with trade balance and employment figures to focus on. While out of Australia we have the RBA rate decision and retail sales.
The current interbank midrate is:    AUDCAD 0.9697

The interbank range this week has been:    AUDCAD 0.9634 - 0.9785
Tuesday 25th June 3:20PM (NZT)
In the wake of the Fed announcement late last week the Australian dollar saw heavy selling and materially underperformed against the Canadian dollar. The cross traded to a low of 0.9485 before the AUD managed to recover somewhat. Then late on Friday night two piece of Canadian data hit the wire that saw the CAD come under pressure. Both inflation data and retail sales for Canada came in under expectation and the CAD played catch up to weakness in the AUD. This saw the cross rate recover all of its post Fed losses. It now trades just below 0.9750. This pair has fallen a long way in the last couple of months and could easily see a bigger corrective rally to resistance around 0.9950. For that to happen, the cross will need to hold above minor support at 0.9640. Canadian GDP later this week could impact along with Australian private sector credit set for release on Thursday.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9728 0.9600 0.9800 0.9485 - 0.9747

Friday 21st June 3:45PM (NZT) - Update
After losing a lot of ground over the last few months the AUDCAD put in a bit of a recovery last week and looked to be regaining some composure. The early part of the week saw the pair drifting slowly lower with little direction. That all change after the US Fed announcement as the AUD took a tumble. In the ensuing carnage the CAD materially outperformed the AUD and the cross rate broke below its recent lows around 0.9550 trading down to 0.9485. It has however recovered somewhat to now trade just below 0.9600. Although this recent move keeps the focus on the downside, it does feel like there is a lack of momentum and further losses won’t be so easy. It will take a move back about 0.9700 to change the picture. Canadian GDP is the only release of note next week.
The current interbank midrate is:    AUDCAD 0.9563

The interbank range this week has been:    AUDCAD 0.9485 - 0.9780
Tuesday 18th June 3:30PM (NZT)
The recovery in the Australian dollar last week helped the cross rate with the Canadian dollar regain some of its recent losses. After making a low of 0.9549 early last week, the pair managed to trade up to 0.9800 before running out of steam. Since then it’s been a slow drift lower in what could be described as directionless trading. Some selling after the RBA minutes were released this afternoon has seen the pair trade below 0.9700, but there doesn’t seem to be much momentum in the move. Although we can expect plenty more volatility over the coming days, I still feel we may have seen a low put in place at 0.9549, at least for the time being, and would like to see a test up to resistance at 0.9950. A move back below 0.9650 would change the picture and warn of a retest of those lows with the chance of further losses.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9690 0.9650 0.9850 0.9549 - 0.9818

Friday 14th June 3:15PM (NZT) - Update
The strong data out of Canada last week has continued to support the Canadian dollar. That combined with a very heavy Australian dollar in the early part of this week saw the cross rate make fresh lows at 0.9549. The AUD has however staged a nice recovery, thanks in part to a lot of short (sold) positions being squeezed out of the market. Key employment data out yesterday helped to set the stage for this move, as it came in better than the market had forecast. The bounce from its lows look genuine and I would be surprised to see them tested again in the short term. The more likely outcome is a continued move higher, albeit very choppy, with a test of resistance around 0.9900.
The current interbank midrate is:    AUDCAD 0.9752

The interbank range this week has been:    AUDCAD 0.9549 - 0.9818
Tuesday 11th June 3:20PM (NZT)
Like most of the Australian dollar pairs the AUDCAD has been heading lower as the outlook for Australia continues to soften. This move accelerated on Friday after the release of Canadian employment numbers that showed stellar gains. The jump in demand for Canadian dollars saw the AUDCAD collapse from 0.9750 all the way to 0.9600. Soft Chinese data over the weekend has helped to push the AUD lower again and the pair now trades around 0.9585. With little out in Canada this week it will be up to the AUD to try and turn things around. There is key Australian employment data on Thursday and a positive surprise could spark a decent correction. Until then however, further weakness is likely.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9600 0.9520 0.9720 0.9576 - 1.0116

Friday 7th June 5:15PM (NZT) - Update
The fall in the AUDCAD that started in early April stalled last week around the 1.000 level. No such luck this week however as the pair collapsed through support near 0.9950 and headed one way - south. The low of 0.9740 has traded recently and the cross shows little sign of recovering. Canada has some better data out this week and that helped it hold it’s ground as the other commodity currencies (NZD and AUD) got hit hard. The next target for the pair is the March 2011 low of 0.9630. Next week see Canadian housing data and Australian employment as a focus for the market. Any rally will now run into resistance around 0.9950.
The current interbank midrate is:    AUDCAD 0.9745

The interbank range this week has been:    AUDCAD 0.9740 - 1.0065
Tuesday 4th June 4:50PM (NZT)
The volatility has continued throughout the last week for this pair. For most of last week the support at .9950 held. However, the better US data late in the week was joined by better than expected monthly GDP numbers in Canada. This saw the .9950 support finally capitulate and the pair quickly traded below 0.9900. The weakness didn’t last long however as better Chinese manufacturing data coupled with weak US numbers last night provided support. This combination has once again increased demand for the AUD over the CAD and propelled the pair through parity once again. The volatility will continue this week following today’s RBA monetary policy decision. Expect no change at this meeting and the focus will move to Australian GDP Wednesday, and the flurry to Canadian data also due for release.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0005 0.9880 1.0080 0.9886 - 1.0065

Friday 31st May 2:25PM (NZT) - Update
This week has seen volatile price action within a relatively contained range for this pair. The .9930 support has provided a base that has been tested on three occasions so far. Efforts to the topside have seen the initial resistance at 1.0020 contain any real AUD enthusiasm. Having fallen so far over the previous month, it is unsurprising to see some level of consolidation. Next week will see the focus dominated by Australian economic news for this pair.
The current interbank midrate is:    AUDCAD 0.9933

The interbank range this week has been:    AUDCAD 0.9930 - 1.0028
Tuesday 28th May 4:50PM (NZT)
The last few days have seen the AUDCAD scratch out fresh lows at 0.9933. It has however recently recovered back above 0.9960, and this keeps the outlook more balanced. There is every chance the pair could try to stage a recovery from these levels. Over the last two years the AUDCAD has bounced from levels around here a number of times, and put in medium term lows. If it can hold these levels in the near term, we may see a test of initial resistance at 1.0080. A move above there would signal a much broader correction is underway. A move such as this  would need assistance from a weakening CAD, as well as a pick-up in AUD demand.
  Current Level Support Resistance Last week's range
AUD/CAD .9973 .9930 1.0080 .9933 - 1.0079

Friday  24th May 3:00PM (NZT) - Update
The past week has seen this pair try to get above the 1.0080 level on numerous occasions. Its repeated failure to do that has now put the focus back on the downside, and the pair is trading back under 1.0000. There is big support however toward 0.9950 and unless we see a sustained break below there, it’s hard to be overly negative on the outlook. Most likely we are in for some sideways action between 0.9950 - 1.0080. Canada’s rate decision and GDP data will be the focus next week, with only minor Australian data set for release.
The current interbank midrate is:    AUDCAD .9984

The interbank range this week has been:    AUDCAD .9982 - 1.0079
Tuesday 21st May 3:50PM (NZT)
The end of last week saw this pair testing key support at 0.9950. That support held and the resulting bounce was helped by a weak reading from Canadian inflation. That undermined support for the CAD, and the pair has so far recovered to 1.0070. This bounce has taken the immediate focus off the downside, and a bigger corrective rally toward 1.0200 could easily eventuate.  A move below 0.9950 however, would signal further downside action is likely. The data front is pretty light in both countries for the rest of this week. Canadian retail sales and Australian consumer confidence are the only releases of note.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0054 .9950 1.0200 .9958 - 1.0096

Friday 17th May 4:20PM (NZT) - Update
Pressure on the AUDCAD has not subsided at all this week.  After bouncing off support at 1.0050 a number of times over the last few days, that level has finally given way. The pair now trades below 1.0000, and remains vulnerable. This latest move lower is on the back of AUD weakness in the last 24 hours. There is no particular driver for the AUD selling other than the broad theme of a softer economy, and expectations of lower levels of QE the US FED impacting global demand for commodities. The AUDCAD has now entered a key support zone, and reaction here will determine near term direction. I would expect to find bids in the market all the way toward 0.9950, and these should provide some support for now. If the market can start to build a base down here then there is surely room for a solid bounce as it’s been almost one way traffic from 1.0700 a couple of months ago. If however we see a sustained move below 0.9950 then all bets are off, and this will have more room to run.
The current interbank midrate is:    AUDCAD .9960

The interbank range this week has been:    AUDCAD .9958 - 1.0152
Tuesday 14th May 3:15PM (NZT)
The relentless march lower in AUDCAD continues with the pair making recent lows around 1.0050 yesterday. This is only just above the major support band of 0.9950 - 1.0030 where buyers should emerge and at least put some two way action back into the market. The pair will have to do a lot of work if it want’s to get through that band of support. I suspect after the move we have seen, it will lack the required momentum in the near term. Those looking to buy AUD and sell CAD should work limit orders below 1.0030 to take advantage of any spikes into that support zone.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0075 1.0000 1.0200 1.0050 - 1.0310

Friday 10th May 2:25PM (NZT) - Update
The CAD has outperformed most currencies this week, and nowhere was that more evident than against the AUD. After opening the week around 1.0400, the pair is currently not far off it’s lows of 1.0140. Exactly one month ago this cross was making yearly highs near 1.0700. The rejection from there has been dramatic, and the result of both CAD strength and AUD weakness. Trying to pick the bottom of a move like this is foolhardy. It will be left to data out next week to provide further direction. Australia has home sales and business confidence, while out of Canada the focus will be on inflation figures released at the end of the week. There are a number of support levels between 0.9950 and 1.0030 where there must surely be buyers lining up, even if it’s only investors who sold earlier looking to take profit.
The current interbank midrate is:    AUDCAD 1.0165

The interbank range this week has been:    AUDCAD 1.0140 - 1.0390
Tuesday 7th May 5:15PM (NZT)
The dramatic reversal in AUDCAD from highs near 1.0700 earlier in the month has kept all eyes firmly on the downside. After trading 1.0320 late last week there was some small respite for the pair as it bounced to the 1.0400 level. But sellers were never far away and it has now turned back down to test the lows. There is a key support level at 1.0275 that is coming under heavy pressure as I write this. A sustained move below here will open the way for further losses with 1.0200 the initial target.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0260 1.0275 1.0450 1.0260 - 1.0485

Friday 3rd May 2:25PM (NZT) - Update
It was almost all one way traffic for this pair during the week. A broadly softer AUD combined with a stronger CAD to see the cross fall from a high of just under 1.0500, to a low of just above 1.0300. A small recovery has taken place with a bounce back above 1.0350, but this pair has had no friends since being rejected from the 1.0700 level earlier in the month. The next key support is around 1.0270 where it should find some buyers. Next weeks RBA rate announcement and employment numbers will be key in seeing if the pair can stage any sort of meaningful corrective bounce.
The current interbank midrate is:    AUDCAD 1.0370

The interbank range this week has been:    AUDCAD 1.0309 - 1.0525
Tuesday 30th April 4:15PM (NZT)
Data out late last week combined with stronger commodity prices, saw the CAD come to life. A sharp increase in demand for the CAD relative to the AUD saw the cross rate plummet from just above 1.0550, down through the psychological level of 1.0500. It finally found some support at 1.0450. The bounce from those lows has failed to regain the 1.0500 level, and further downside tests seem likely. A slightly softer outlook for the Australian economy relative to Canada is driving the move and with little in the way or top tier data set for release from either country this week the focus will shift to offshore events. Federal Reserve meeting Wednesday and US employment data Friday will both be closely watched.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0473 1.0350 1.0550 1.0445 -1.0562

Friday 26th April 4:45PM (NZT) - Update
The strength of the AUD this week saw the AUD/CAD rate grinding higher after bouncing off recent lows just above 1.0500.  But a couple of key factors saw the CAD come to life in the latter part of the week and outpace any AUD gains. This saw the currency pair have a sharp move from around 1.0560, back down to 1.0500. Better than expected UK GDP numbers saw oil prices spike higher and this was the kick the CAD needed after ignoring stronger commodity prices during the week. A test below the psychological level of 1.0500 could well be on the cards if this CAD strength continues.
The current interbank midrate is:    AUDCAD 1.0520

The interbank range this week has been:    AUDCAD 1.0501 - 1.0600
Tuesday 23rd April 6:15PM (NZT)
The Canadian dollar saw grinding appreciation throughout the course of last week, and the pair finished the week on its lows. This week so far has seen a continuation of this theme. Today’s weak Chinese manufacturing numbers further undermined demand for the AUD, and the pair pushed down to settle at current levels just above the support at 1.0500. Direction from here will depend on the wider marker risk appetite in the coming session, and the Australian inflation numbers tomorrow. A low number would certainly further undermine the AUD, as it would see increased chances of further easing to the cash rate from the RBA.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0512 1.0500 1.0700 1.0501 - 1.0616

Friday 19th April 4:02PM (NZT) - Update
The Australian dollar saw decent pressure from the CAD to start the week, before making a recovery of sorts. The initial pressure came primarily on the back of increased global growth uncertainty driven by the weak GDP number in China. Overnight the BOC re-iterated that the next move in monetary policy would be a hike from them and this has renewed pressure on the AUD, with the potential for narrowing interest differentials between Australia and Canada in the future. Current levels still offer great value buying of CAD with AUD from a historical perspective.
The current interbank midrate is:    AUDCAD 1.0569

The interbank range this week has been:    AUDCAD 1.0553 - 1.0668
Tuesday 16th April 4:42PM (NZT)
The Australian dollar started this week under considerable pressure as the wider market risk aversion increased. Weaker than expected economic news in the US and China has exposed vulnerabilities in the hard commodities markets, and this coupled with uncertainly following the Boston explosions to push the AUD down on this pairing. It seems that increased uncertainty will likely persist in the short term, and the 1.0520 level will remain key if there is a further slump in AUD demand. Today's RBA monetary policy meeting minutes were of limited impact and now the focus turns to today's Canadian manufacturing numbers, tomorrow's BOC monetary policy announcement (unchanged expected), and Friday's Canadian inflation number.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0592 1.0520 1.0720 1.0565 - 1.0705

Friday 12th April 2:08PM (NZT) - Update
This pair has traded the full extent of its recent range so far this week. After starting the week on its lows, the pair has seen AUD demand push it up towards resistance around the 1.0700 level. The bulk of the move has been driven by improved risk appetite in the wider market, as share markets reached for news highs, and interest rates bounced off lows. Yesterday’s weak Australian employment markets have tempered further AUD appreciation and the pair sits more comfortably at current levels ahead of the busy Canadian economic calendar next week. Expect resistance around the 1.0700 level to be tested if the US corporate earnings season is positive next week. Needless to say, current levels again offer great value buying of CAD with Australian dollars.
The current interbank midrate is:    AUDCAD 1.0652

The interbank range this week has been:    AUDCAD 1.0532 - 1.0705
Tuesday 9th April 4:51PM (NZT)
Last week saw this pair continue to trade in the elevated range it has occupied over the last month. The positive Australian data initially saw increased AUD demand. Then came the wider market risk aversion increase, and the AUD pared its gains. The mixed Canadian economic data on Friday saw a volatile end to the week. This week has seen the CAD under some renewed pressure and the pair finds itself again towards the middle of its recent range. The focus this week comes in the form of Canadian building permits later today, and these come ahead of the Australian employment numbers on Thursday. Whilst these elevated levels may continue in the short term, they certainly offer ongoing good value buying of CAD with AUD.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0603 1.0520 1.0720 1.0532 - 1.0637

Friday 5th April 4:28PM (NZT) - Update
This week has seen mixed price action for this pairing so far. The positive news in Australia early on saw the pair grind higher to eventually set the highs for the week. However, since then the AUD has underperformed in the volatility following the monetary policy announcements in Japan and Europe. The indirect pressure from the CAD saw it stablise just off the support at 1.0520. From here the Canadian data (employment, trade balance and manufacturing) later today provides the near term focus. Next week the primary focus for the AUDCAD will be Australian employment numbers on Thursday.
The current interbank midrate is:    AUDCAD 1.0540

The interbank range this week has been:    AUDCAD 1.0538 - 1.0637
Tuesday 2th April 4:00PM (NZT)
The Australian dollar finely saw some pressure from the Canadian dollar last week. Higher than expected Canadian inflation numbers started the move and moment was finely halted by the initial support at the 1.0575 level. This week sees today's RBA monetary policy announcement start the focus, albeit should be of limited impact. Then comes the Australian building and retail sales numbers on Thursday, ahead of the important Canadian employment and manufacturing numbers on Friday. Consolidation through initial support at 1.0575 will expose the 1.0520 level below. If the Canadian dollar can see improved demand, and can break these levels, it could well indicate the start of a move back to more historically average levels.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0612 1.0520 1.0720 1.0575 - 1.0695

Tuesday 26th March 4:10PM (NZT)
The Australian dollar forged higher against the Canadian dollar last week. The pair remains at very elevated levels that offer great value buying of Canadian dollars. Certainly further ground from the current levels will be far harder to make for the AUD. The focus this week comes from the Canadian inflation numbers on Wednesday, and GDP numbers on Thursday. Next week sees a busy economic calendar with the RBA monetary policy announcement Tuesday, and construction and retail sales numbers Thursday. A Canadian focus will round out next week with employment and manufacturing numbers late Friday.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0670 1.0520 1.0720 1.0602 - 1.0714

Friday 22nd March February 4:15PM (NZT) - Update
The Australian dollar has seen grinding appreciation against the CAD throughout the course of this week. The pair was able to break through resistance at 1.0650 in yesterday’s offshore session that saw solid Chinese manufacturing numbers combine with news that Australian PM Gillard defended her right to lead the Labour party into Septembers election. In the back ground the RBA monetary meeting minutes, and the fact that interest rate differentials may not contract by as much as earlier expected, would certainly have aided the move. Canada's economic data remains mixed at best, but becomes the focus next week with inflation and GDP data releases. Current levels offer great levels to sell AUD and buy Canadian dollars.
The current interbank midrate is:    AUDCAD 1.0672

The interbank range this week has been:    AUDCAD 1.0575 - 1.0701
Tuesday 19th March 3:58PM (NZT)
This pair saw further AUD appreciation last week, albeit with slowing momentum. It seems likely that the CAD will see demand that will cap further appreciation this week, as the pair remains at very elevated levels. Today's RBA monetary policy meeting minutes reiterate the "wait and see" approach to monetary policy decisions in the near term. The remainder of the week will see the focus come from the Canadian manufacturing and retail sales numbers. The short term pull back in demand for the US dollar will temper a material CAD bounce this week, but current levels offer great value buying of CAD with AUD.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0615 1.0450 1.0650 1.0551 - 1.0663

Friday 15th March February 4:15PM (NZT) - Update
The AUD saw grinding appreciation against the CAD to start this week. The 1.0600 resistance contained price action until the bonanza Australian employment numbers saw the pair break through to push the highs for the week at 1.0660. However, the CAD has started to fight back. Supported by timber prices at 8 year highs, the CAD saw strong demand in the overnight sessions. But consolidation through the 1.0600 level is required in order to herald a new leg lower for this pair. Next week sees a relatively quiet week for top tier economic news. The RBA monetary policy meeting minutes on Tuesday will be closely watched and Friday's Canadian retail sales numbers will offer the primary focus in Canada.
The current interbank midrate is:    AUDCAD 1.0598

The interbank range this week has been:    AUDCAD 1.0500 - 1.0660
Monday 11th March 4:01PM (NZT)
It was an interesting last week for this pair last. Following some strong Australian news, and a change back to neutral monetary policy bias from the BOC, the pair tested resistance at the 1.0600 level. These lofty heights did not last long as the surprisingly strong Canadian employment numbers on Friday gave CAD demand a significant boost. Weak Chinese data released over the weekend has further softened the AUD demand to start the week, albeit the AUD remains at elevated levels. This week sees a quiet economic data calendar in Canada. This makes the Australian employment report on Thursday the week's focus, as the pair starts the week close to the middle of the recent 1.0400- 1.0600 range.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0508 1.0400 1.0600 1.0429 - 1.0600

Friday 8th March February 4:00PM (NZT) - Update
This week has seen renewed pressure on the Canadian dollar on the back of weaker economic news and a shift to a neutral bias from the BOC. Australian dollar demand has increased as wider market sentiment improved and the 4th quarter Australian retail sales figures came out materially stronger than expected. The pair has seen steady AUD appreciation. The question is whether or not the pair can consolidate above the resistance around current levels. Whatever the case, current levels and above offer great value buying of CAD with Australian dollars. The Canadian employment numbers later on today provide further focus ahead of the Australian employment data on Thursday next week.
The current interbank midrate is:    AUDCAD 1.0560

The interbank range this week has been:    AUDCAD 1.0429 - 1.0600

Tuesday 5th March 4:53PM (NZT)
This pair continues to consolidate at levels that offer continued good value buying of CAD with Australian dollars. The AUD did see periods of concerted pressure from the CAD. Friday's GDP number is encouraging for the CAD, which has seen so much pressure recently. This week sees a busy economic calendar in both economies. Both central banks will make monetary policy decisions. These should both be unchanged and come along 4th quarter GDP in Australian and monthly employment numbers in Canada.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0474 1.0375 1.0575 1.0429 - 1.0542

Friday 1st March February 4:33PM (NZT) - Update
After initially opening higher the AUD then came under some pressure from the CAD as the wider market risk aversion increased following the inconclusive Italian election result. However, this weakness did not last, and in the sessions following yesterday’s  Australian capital expenditure numbers the AUD has regained a good portion of lost ground. The weakness of the CAD against the USD has certainly been a factor also, having spilt over into other pairs such as this one. Apart from the Canadian monthly GDP number later on today, the respective central banks provide the bulk of the focus next week. In addition to the monetary policy announcements, Australian GDP and Canadian employment numbers extend the focus.
The current interbank midrate is:    AUDCAD 1.0535

The interbank range this week has been:    AUDCAD 1.0451 - 1.0568
Tuesday 26th February 3:53PM (NZT)
The AUD forged further ground against the beleaguered Canadian dollar last week. Dual forces of increased AUD demand, and a lower CAD demand enabled the move. The AUD saw demand buoyed by rhetoric from the RBA that pointed towards monetary policy being on hold in the near term. In Canada the soft run of economic news continued and this was reiterated overnight by the comments from outgoing BOC Governor Carney. This week sees Thursday’s private capital expenditure number in Australia provide focus ahead of Fridays Canadian GDP release. Current levels again offer great value buying of CAD with AUD.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0542 1.0375 1.0575 1.0416 - 1.0568

Friday 22nd February 4:59PM- Update
The CAD under performed the AUD again this week. Pressure on the CAD spilled over from its pairing against the USD, and this provided much of impetus for the softer demand. The resistance at 1.0500 capped the AUD appreciation, and only the increasing risk aversion in Europe and Asia in the latter half of this week eased the pair back from the highs for the week.  Current levels again offer great value buying of CAD with Australian dollars.
The current interbank midrate is:    AUDCAD 1.0479

The interbank range this week has been:    AUDCAD 1.0356 - 1.0492
Tuesday 19th February 3:50PM (NZT)
This pair traded a relatively contained range for the most part last week. The CAD saw pressure in yesterday’s US holiday session, and that has pushed the AUD higher. This AUD appreciation has been added to by today's RBA monetary policy meeting minutes that while unsurprising, are slightly less committal to future easing's to the 3.00% cash rate. From here the pair will be led by moves in the wider market ahead of the Canadian inflation and retail sales data on Friday. If the AUD sees further gains, opportunities will again arise for great value buying of CAD with Australian dollars.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0437 1.0250 1.0450 1.0308 - 1.0438

Tuesday 12th February 5:55PM (NZT)
The Canadian dollar finally started to place some pressure back on the AUD last week. It managed to push through the support at 1.035 and that level now represents initial resistance for the pairing. The pressure looked likely to continue into the end of the week, but the soft Canadian employment numbers stemmed the CAD demand for the time being. With the RBA leaving the door open for further monetary easing in Australia, the way is eased for further CAD appreciation. There is little in the way of top tier economic data in either economy this week, but outgoing BOC Governor Carney speaks later today and that will provide a focus.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0315 1.0200 1.0400 1.0247 - 1.0409
Back to the top
Tuesday 5th February 6:10PM (NZT)
The Canadian dollar is finally starting to take back of its lost ground from the AUD. The support level at 1.0350 has held for the time being, but it remains the target for CAD out performance in the short term. The AUD has seen some increased pressure following today’s RBA statement. Combined with Wednesday’s retail sales numbers, Thursday’s employment numbers, and Friday’s RBA quarterly Monetary Policy Statement, it is a big week in Australia. In Canada the focus starts later on it the week with manufacturing, building, employment and trade balance numbers.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0394 1.0350 1.0550 1.0352 - 1.0515

Tuesday 29th January 4:55PM (NZT)
This pair remains at surprisingly elevated levels. The CAD was under real pressure as the inflation numbers have proved to be lower than expectations. With expectations for a rise in the Canadian cash rate being pushed out towards the end of 2013 at the earliest, the CAD has suffered. With the AUD also appearing vulnerable, it was a case of a battle of two weakening currencies over the last week. This week will see the primary focus of the pair on the Canadian GDP number on Thursday. In Australia the focus will continue to build towards the RBA monetary policy decision next week. Whilst expectations are for an unchanged cash rate, the market has priced in a risk of the further easing to 2.75% and this eventuality would certainly see the AUD under renewed pressure next week. Current levels look to offer great value levels to sell AUD and buy Canadian dollars.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0496 1.0350 1.0550 1.0449 - 1.0544

Tuesday 22nd January 3:55PM (NZT)
This pair remains at elevated levels that offer good value buying of CAD with Australian dollars. The AUD saw initial pressure from the CAD last week as the better than expected BOC business outlook numbers boosted CAD demand. But as equity markets pressed higher last week the AUD saw slightly higher demand than the CAD, and this again has pushed the pair to test resistance at 1.0450. Apart from Wednesday’s Australian inflation number, the focus will come from Canadian news this week. Retail sales later today (Tuesday), comes ahead of the BOC monetary policy announcement Wednesday (expected unchanged cash rate), and the latest inflation numbers on Friday.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0440 1.0250 1.0450 1.0353 - 1.0356

Tuesday 15th January 4:55PM (NZT)
The Australian dollar remains at historically elevated levels against the CAD. The wider market exuberance in the early new year drove the initial AUD demand. However, the weak retail sales number last week (and ECB comments), saw renewed pressure back on the AUD to enable the CAD to push it back from its highs. The positive Canadian business outlook survey released overnight has benefited the CAD. This pair looks very comfortable within its wider 1.0250 – 1.0450 trading range that it has been in for the past three months.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0380 1.0250 1.0450 1.0340 - 1.0438

Tuesday 18th December 2012 5:10PM (NZT)
This pair remains very much in what has recently become a familiar range. The AUD saw some sharp appreciation in the offshore session on Friday last week and again the appreciation was foiled at the 1.0420 level. The start of this week has just seen a grinding appreciation from the CAD, and certainly nothing to garner too much confidence. With today’s RBA monetary policy minutes of limited impact, the focus now turns to the data in Canada to finish the week. Thursday sees the release of the latest retail sales numbers, ahead of the inflation and GDP data on Friday.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0370 1.0250 1.0450 1.0333 - 1.0425

Tuesday 11th December 2012 3:45PM (NZT)
The Canadian dollar saw grinding appreciation over the Australian dollar last week. The BOC reiterated their position that the next cash rate move will be an increase, and the corresponding RBA cut to their cash rate provided the drive for the move. The current levels are at the lows for the week. The pair remains somewhat comfortable in the month old 1.0325 – 1.0425 range. A breakdown through of the initial support at 1.0320, would enable further moves lower to test 1.0250. There is little of notable economic data in either economy this week, with just the Canadian trade balance later on today to provide any real focus. This means the lead will come from the wider market appetite for risk, with the likely drivers being news of European debt markets and the US fiscal cliff.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0333 1.0250 1.0450 1.0339 - 1.0422

Monday 3rd December 2012 4:52PM (NZT)
The AUD finally started to give up some ground to the CAD last week. This came after the soft capital expenditure numbers and the theme had continued into this week with the lower than expected Australian retail sales number today. Tomorrow sees what should be a 25pt cut in the cash rate to 3.00% from the RBA, come ahead of an expected unchanged BOC decision later on in Canada. Third quarter GDP Wednesday, and employment on Thursday round out a very busy week in Australia. Canadian building and manufacturing numbers follow on Thursday, ahead of employment numbers Friday. With the RBA poised to ease the cash rate, the bias is towards a move lower for this pair. The 1.0250 level will provide a stern test for further AUD weakness. Choppy price action is likely and targeting levels with limit orders may offer opportunities to use the volatility as an advantage.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0329 1.0250 1.0450 1.0317 - 1.0411

Tuesday 27th November 2012 4:44 PM (NZT)
The AUD initially saw some overdue pressure from the Canadian dollar last week. Unfortunately, the pressure could not be sustained and the equity markets dragged the AUD back higher against the CAD to end the week. This has continued this week and the positive sentiment following the Greek bailout extension has given the AUD another temporary boost. Canadian monthly GDP on Friday provides the primary focus for the remainder of the week. Next week is action packed with both higher level economic data and central bank decisions in both economies. The likelihood of no change in either cash rate (small chance of a cut in Australia), will see the focus come on the economic data. Australian GDP and employment numbers will dominate in Australian, while in Canada the manufacturing and employment numbers will provide the focus.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0403 1.0250 1.0450 1.0306 - 1.0411

Tuesday 20th November 2012 3:56 PM (NZT)
Last week provided further volatility for this pair. The AUD put on steady ground early to make the highs for the week. The turnaround came from a reversal of risk appetite in the wider market. The middle of the week saw the AUD steadily give back gained ground before the pair stabilised just on the initial support at 1.0320. The recovery this week has been somewhat muted, and the reiteration by the RBA today, that lowering the cash rate remains on the agenda “if appropriate”, should temper demand any rampant demand in the short term at least. Retail sales and inflation numbers in Canada later this week provide the remainder of the focus, and healthy numbers would see the pair renew pressure on the initial support at 1.0320 at the very least.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0369 1.0250 1.0450 1.0319 - 1.0470

Tuesday 13th November 2012 4:55 PM (NZT)
The AUD saw further grinding appreciation against the Canadian dollar last week. Its largest boost came following the RBA decision to leave the cash rate unchanged at 3.25%. The 1.0400 level proved to be a stalling point for a time, and certainly the pair does not seem very comfortable above this level. The loss of momentum should see further upside from the AUD curtailed by the resistance at the 1.0450 level. On the downside the first decent support below 1.0400 looks to come in at 1.0330. There is little in the way of material economic data in either economy this week, so periods of directionless trade can be expected in the short term. Next week sees the latest RBA monetary policy meeting minutes feature in Australian. In Canada, retail sales and inflation data will hold the focus.
  Current Level Support Resistance Last week's range
AUD/CAD 1.0411 1.0250 1.0450 1.0282 -1.0438

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