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Harder work ahead for further appreciation for the AUDCAD from current levels.

Written by Sam Coxhead on September 28th, 2012.      0 comments

3:51 PM (NZT)This pair remains within its recently familiar range, albeit towards the upper end. The pair has seen a solid bounce from the lows on Wednesday, but has ran into resistance around the 1.0250 level once again.  Canadian GDP later on today will be very closely watched. Next week sees the focus start on the RBA monetary policy decision on Tuesday. Ahead of that decision, expect the AUD to struggle to make too much further progress from current levels. Further resistance at 1.0300 remains the crucial level should we see any further AUD appreciation next week.
 
The current interbank midrate is:                                                            AUDCAD  1.0245                                                                                        
 
The interbank range so far this week to date has been:                 AUDCAD 1.0144 – 1.0268
Topics: AUD CAD
 

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