AUD/CAD’s up trend resumes today as Aussie is back in the driving seat against other commodity currencies. Prior retreat from 0.9857 was much briefer than expected, as the lack of lift from oil price to Canadian Dollar is somewhat disappointing too.
Near term outlook will now stay bullish as long as 0.9772 support holds. Sustained trading above 38.2% projection of 0.8066 to 0.9696 from 0.9247 at 0.9870 is an affirmation of underlying medium term momentum. Next target is 61.8% projection at 1.0254.
