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25 Jul 2014
AUD/CAD with minor topping signs here - TDS
FXStreet (Guatemala) - Analysts at TD Securities explained that the AUD/CAD took a look above trend channel resistance today and didn't seem to like what it saw.
Key Quotes:
“After a positive session Wednesday, when the AUD took out the 40-day MA resistance that had held up the rally over the past week, today’s failure to flourish looks a little disappointing”.
“There are minor topping signs on the short term charts that warrant attention and, coming at the top end of the recent channel, we have to pay attention—as we did when spot rallied off the low 0.99s. Still, unless there is a significant drop near-term towards par, we think the July move up risks extending”.
Key Quotes:
“After a positive session Wednesday, when the AUD took out the 40-day MA resistance that had held up the rally over the past week, today’s failure to flourish looks a little disappointing”.
“There are minor topping signs on the short term charts that warrant attention and, coming at the top end of the recent channel, we have to pay attention—as we did when spot rallied off the low 0.99s. Still, unless there is a significant drop near-term towards par, we think the July move up risks extending”.