10-01-2019, 07:24 AM
Technical Overview of AUD/USD and USD/CAD Currency Pair
AUD USD
AUD traded lower against USD and closed at 0.6749.
The bid tone around the US dollar strengthened across the board, now pushing AUD/USD back into the red to hit four-week lows near 0.6740. The focus now shifts to the RBA rate decision while poor Australian housing data and US-China trade uncertainty continue to weigh.
According to the Analysis, pair is expected to find support at 0.6743 and a fall through could take it to the next support level of 0.6736. The pair is expected to find its first resistance at 0.6765 and a rise through could take it to the next resistance level of 0.6772.
USD CAD
USD traded higher against CAD and closed at 1.3239.
With its failure to cross 1.3263/65 resistance-confluence, USD/CAD drops back towards near-term horizontal support as it trades near 1.3240 during the Asian session on Tuesday. Three-week-old horizontal-line restricts immediate downside.
According to the Analysis, pair is expected to find support at 1.3228 and a fall through could take it to the next support level of 1.3220. The pair is expected to find its first resistance at 1.3256, and a rise through could take it to the next resistance level of 1.3264.
Important Economic Events of the Day
· JPY: Bank of Japan (BoJ) Tankan Large Manufacturing Index
· JPY: Bank of Japan (BoJ) Tankan Large Non-Manufacturing Index
· AUD: Reserve Bank of Australia (RBA) Interest Rate Decision
· AUD: Reserve Bank of Australia (RBA) Governor Lowe Speech
· CAD: Canada Gross Domestic Product (GDP) m/m
· USD: ISM United States Manufacturing Purchasing Managers Index (PMI)
For More information about the release time of news and its impact visit Economic Calendar Page!
AUD USD
AUD traded lower against USD and closed at 0.6749.
The bid tone around the US dollar strengthened across the board, now pushing AUD/USD back into the red to hit four-week lows near 0.6740. The focus now shifts to the RBA rate decision while poor Australian housing data and US-China trade uncertainty continue to weigh.
According to the Analysis, pair is expected to find support at 0.6743 and a fall through could take it to the next support level of 0.6736. The pair is expected to find its first resistance at 0.6765 and a rise through could take it to the next resistance level of 0.6772.
USD CAD
USD traded higher against CAD and closed at 1.3239.
With its failure to cross 1.3263/65 resistance-confluence, USD/CAD drops back towards near-term horizontal support as it trades near 1.3240 during the Asian session on Tuesday. Three-week-old horizontal-line restricts immediate downside.
According to the Analysis, pair is expected to find support at 1.3228 and a fall through could take it to the next support level of 1.3220. The pair is expected to find its first resistance at 1.3256, and a rise through could take it to the next resistance level of 1.3264.
Important Economic Events of the Day
· JPY: Bank of Japan (BoJ) Tankan Large Manufacturing Index
· JPY: Bank of Japan (BoJ) Tankan Large Non-Manufacturing Index
· AUD: Reserve Bank of Australia (RBA) Interest Rate Decision
· AUD: Reserve Bank of Australia (RBA) Governor Lowe Speech
· CAD: Canada Gross Domestic Product (GDP) m/m
· USD: ISM United States Manufacturing Purchasing Managers Index (PMI)
For More information about the release time of news and its impact visit Economic Calendar Page!