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The AUD finally finmds resistance against the CAD (at 1.0300)

Written by Sam Coxhead on October 26th, 2012.      0 comments

5:00 PM (NZT) It has been a second extraordinary weeks trading for this pair. The BOC have provided most of the fun, with the market taking mixed messages from their two state following last week’s low inflation numbers. Adding to the mix the higher inflationary pressure evident in Australia, and a better outlook for Chinese manufacturing(AUD positive) and the way was paved for quite a recovery from the AUD from the 1.0153 lows seen on Tuesday. It is interesting that the AUD  gains have been tamed by the resistance around 1.0300, and hopefully this will continue with the aid of a softer stock market outlook in the short term. For those looking to buy AUD , patience is required and the benefit of load limit orders at targeted levels may prove its worth in the coming weeks.
 
The current interbank midrate is:                                                   AUDCAD 1.0275. 
                                                                                         
The interbank range so far this week to date has been:        AUDCAD 1.0153 – 1.0312
Topics: AUD CAD
 

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