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The AUD bounces from lows against the CAD, for now..

Written by Sam Coxhead on May 18th, 2012.      0 comments

4:48 PM (NZT) The AUD saw initial pressure from the CAD at the start of this week. The pair was unable to consolidate through the parity level and over the last couple of days the AUD has outperformed following comments from the BOC about concerns on the economy.  The pair was due for some kind of AUD resurgence, given the pressure that the CAD has applied to the AUD of late. Next week there is little Australia to provide the lead, so the focus for the pair will from Thursdays release of the Canadian retail sales data. A failure of the pair to consolidate through 1.0100 will likely mean further testing to the downside support at 1.0000 at some stage soon.
 
The current interbank midrate is:                                                            AUDCAD  1.0072                                                                                         
 
The interbank range so far this week to date has been:                 AUDCAD .9977 – 1.0112
Topics: AUD, cad
 

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