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The AUDCAD pair range bound for now.

Written by Sam Coxhead on December 14th, 2012.      0 comments

3:41 PM (NZT)The AUDCAD pairing remains in what have recently come a familiar range. Any efforts for the pair to move through the resistance at the 1.0420 level have proved a step to far for the AUD. Equally the support at 1.0300 is proving had for the CAD to push through also, so this is why we have seen this repetitive range establish over the last month or so. The AUD does seem vulnerable on other pairings, so this may lead to pressure against the CAD. Positive data in Canada late next week would also help push the pair back down towards more historically average levels. The RBA monetary policy meeting minutes will be closely watched on Tuesday, but are unlikely to materially affect the price action.

The current interbank midrate is:                                                   AUDCAD 1.0363 
                                                                                         
The interbank range so far this week to date has been:        AUDCAD 1.0330 – 1.0403
Topics: AUD CAD
 

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