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AUD/CAD: Jan rally undone – TDS


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FXStreet (Guatemala) – Analysts at TD Securities noted that the AUD/CAD’s soft underlying technical position has been highlighted by the scale of today’s slide.

Key Quotes:


“This is really the move lower that we thought we might get last week as the AUD pressured support in the low 0.98 area.”


“The January rally has come undone and we should see more retracement of the rally from 0.94 from here after another strong rejection of par/200-day MA.”


“AUD weakness below the 40-day MA (0.9648 today) should see weakness accelerate towards 0.94.”