AUD/CAD Short-Term Technical Outlook

Daily Forex Technicals | Written by DailyFX | Sep 25 08 05:52 GMT |

Analysis Currency Pair: AUD/CAD Short-Term Bias: Short Chart: 60 Min Charts We have held a bearish outlook for the AUD/CAD since the beginning of September, and anticipate the pair to fall lower in the days ahead. Earlier this week, the pair bounced higher to hit an intraday high of 0.8806 on 9/22, but has come back down to hold near 0.8670-0.8680. We expect the underlying downtrend that began in August to drag the pair lower, and forecast the pair to fall back below 0.8575 over the next few days. The downward momentum may also lead the pair to test the 9/18 low of 0.8395 for support over the following week. Be sure to check out Jamie's Technical Outlook for additional information on the major currency pairs DailyFX Disclaimer Investment in the currency exchange is highly speculative and should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only. Accordingly we make no warranties or guarantees in respect of the content. The publications herein do not take into account the investment objectives, financial situation or particular needs of any particular person. Investors should obtain individual financial advice based on their own particular circumstances before making an investment decision on the basis of the recommendations in this website. While we try to ensure that all of the information provided on this website is kept up-to-date and accurate we accept no responsibility for any use made of the information provided. All intellectual property rights are the property of Daily FX. Daily FX and its affiliates, will not be held responsible for the reliability or accuracy of the information available on this site. The content herein is provided in good faith and believed to be accurate, however, there are no explicit or implicit warranties of accuracy or timeliness made by Daily FX or its affiliates. The reader agrees not to hold Daily FX or any of its affiliates liable for decisions that are based on information from this website. Daily FX highly recommends that before making a decision, the reader collects several opinions related to the decision and verifies facts from at least several independent sources.