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The AUD closes in on support against the CAD.

Written by Sam Coxhead on March 30th, 2012.      0 comments

4:51 PM (NZT) This week the AUD CAD pair has seen a very similar range to what it did the week before. The difference is that it started with the AUD on its highs and looks like finishing with the pair not far from its lows. The crucial level remains at 1.0300, a break of this level in the coming week would open up the way for another move lower from the AUD. Next week the RBA will be the focus, ahead of the Canadian data on Friday. A cut from the RBA would likely see a push through the 1.0300 support level.
 
The current interbank midrate is:                                                            AUDCAD  1.0350                                                                                         
 
The interbank range so far this week to date has been:                 AUDCAD 1.0306 – 1.0486
 

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