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AUDCAD still bearish aiming 0.9300

General outlook for the pair:
  • The pair moved in the last weeks between 0.9700 and 0.9400.
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CAD performed well last week, Housing Starts 201K VS 213K expected, NHPI m/m +0.1% as expected, next week focus will be on Foreign Securities Purchases, Manufacturing Sales m/m, CPI m/m and Core Retail Sales m/m.

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Pair still sold below 0.9350 but demand existed around 0.9270, still in oversold areas...

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Aussie performed the best last week, HPI q/q came at -0.7% as expected, MI Leading Index m/m +0.1% Vs last 0.0%, Monetary Policy Meeting Minutes warned about trade wars between US and its partners, next week with light data includes Private Sector Credit m/m.

in other hand,

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CAD performed so well last week, Foreign Securities Purchases 12.65B VS 4.35B expected, Manufacturing Sales m/m +0.9% VS +1.0% expected, CPI m/m -0.1% as expected, Core Retail Sales m/m +0.9% VS +0.6% expected, next week focus will be on BOC Gov Poloz Speaks and GDP m/m.

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Pair seemed bottomed around 0.9250, but far gains above 0.9400 still not expected as pair still under pressure in high time frames.

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AUDCAD bottomed and ready to 1.0000 again

General outlook for the pair:
  • The pair moved in the last weeks between 0.9800 and 0.9600.
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Aussie pared last week losses and end week positive, NAB Business Confidence came at 7.0 Vs last month 6.0, Wage Price Index q/q at +0.6% as expected,Employment Change -3.9K VS +0.15.0K but Unemployment Rate at 5.3% VS 5.4% expected, next week focus will be on Monetary Policy Meeting Minutes and Construction Work Done q/q..

in other hand,

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in other hand, CAD performed so well last week, Manufacturing Sales m/m came at 1.1% VS 1.0% expected, CPI m/m +0.5% VS +0.5% expected, Foreign Securities Purchases at 11.55B VS 4.91B expected, NATFA talks improved and this also helped CAD, next week focus will be on Wholesale Sales m/m and Core Retail Sales m/m.

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Strong recovery from 0.9400 to 0.9550, pair seemed bottomed but still need confirmation.

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Aussie performed the worst last week, Private Capital Expenditure q/q -2.5% VS +0.6% expected, Building Approvals m/m -5.2% VS -2.2% expected,next week focus will be on Retail Sales m/m, RBA Rate Statement, GDP q/q and Trade Balance, in other hand,
CAD did not perform well last week, Current Account came at -15.9B VS -15.3B, GDP m/m 0.0% VS +0.1% expected, next week focus will be on Trade Balance, Overnight Rate, Employment Change and Unemployment Rate.

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Pair failed again to hold above support, closed week and day around bottom,  reached oversold areas, but still bearish.

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AUDCAD Bullish Aiming 1.0000

General outlook for the pair:
  • The pair moved in the last weeks between 0.9700 and 0.9930.
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Pair broke below 0.9700 but then closed above it, good bulls try and next week is critical for bulls.

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Aussie performed so well last week, NAB Business Confidence 6.0 VS 7.0 last, next week focus will be on Monetary Policy Meeting Minutes, Employment Change and Unemployment Rate, in other hand, CAD performed well last week, BOC raised Overnight Rate to 1.5% as expected, next week focus will be on Manufacturing Sales m/m, CPI m/m and Core Retail Sales m/m.

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Pair stabilized again around 0.9750 and this may help pulls to push the pair up again.

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Aussie recovered most of its losses and closed week near to opening, Employment Change 50.9K VS 16.7K, Unemployment Rate 5.4% as expected, next week focus will be on CPI q/q, in other hand, CAD performed well last week, Manufacturing Sales m/m 1.4% VS -1.1% last, CPI m/m +0.1% as expected, Core Retail Sales m/m +1.4% VS +0.6% expected, next week focus will be on Wholesale Sales m/m.

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Still around bottom unable to make up direction but at least current consolidation may imply that bullish try to come.

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AUDCAD bullish aiming 1.0000

General outlook for the pair:
  • The pair moved in the last weeks between 0.9550 and 0.9800.
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Capped around 0.9930 and felt to 0.9780, found some demand and now around 0.9800.

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Aussie continued losses but recovered most of its week losses, Suddenly, the RBA is not so sure the next move in the cash rate will be higher, HPI q/q -0.7% VS -0.9% expected, next week Private Sector Credit m/m and HIA New Home Sales m/m will be released, in other hand, CAD performed worst last week, CPI m/m +0.1% VS +0.4% expected, Core Retail Sales m/m -0.1% VS +0.5% expected, next week focus will be on BOC Gov Poloz Speaks, GDP m/m and BOC Business Outlook Survey.

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Pair jumped but sold again around 0.9950, now  hold at 0.9870, next week 0.9950 will be critical for pair bulls.

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AUSSIE performed bad last week, HIA New Home Sales m/m -4.4% VS -4.2% expected, Private Sector Credit m/m +0.2% VS +0.4% expected, next week focus will be on RBA CASH RATE and Rate Statement, Retail Sales m/m and Trade Balance, in other hand, CAD performed so well last week, GDP m/m +0.1% VS 0.0% expected, next week focus will be on Employment Change and Trade Balance.

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Failed below 0.9750 with strong worrying sign for bulls, pair should hold again above 0.9750 to maintained bullish scenario.

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AUDCAD to close next month around 1.0000

General outlook for the pair:
  • The pair moved in the last weeks between 0.9900 and 0.9700.
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Aussie performed well in last week after early sell off, NAB Business Confidence came at 10 VS 8, Retail Sales m/m 0.0% vs +0.2%, next week focus will be on Monetary Policy Meeting Minutes, Wage Price Index q/q and Employment Change, in other hand, CAD performed well in last week, Building Permits m/m came at 3.1% VS 2.0%, Employment Change came at -1.1K VS 17.8K expected, Unemployment Rate at 5.8% as expected, focus in next week will be on CPI data.

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Still in free fall mode below 0.9700 and just close above 0.9700 can open the door for bullish attempt.

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Aussie performed well last week, Wage Price Index q/q came at +0.5% VS 0.6% expected, but Employment Change came at 22.6K VS 19.8K expected, Unemployment Rate came at 5.6% VS 5.5% expected, next week with no significant data but Construction Work Done q/q will be released and there is Speech for RBA Gov Lowe, in other hand, CAD did not perform well last week as Manufacturing Sales m/m came at 1.4% VS 1.1%, CPI came at 0.3% as expected, but Core retail sales came at -0.2% VS +0.5% expected, no week with no significant data except for OPEC-JMMC Meetings.

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As expected pair stabilized around 0.9600, now holds around 0.9670, good reversal sign.

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Pair bottomed but still need momentum to achieve expected target around 0.9900.

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AUCAD topped and ready to fall

General outlook for the pair:
  • The pair moved in the last weeks between 1.0250 and 0.9850.
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As expected pair continued falling reaching 0.9750 before recovery to 0.9800, still seen bearish in the near time.

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Aussie performed worst last week, employment disappointed as it came just 4.9K VS 20.3K expected, last month revised to -6.3K from 17.5K expected, first drop from 2 year, CPI will be in focus next week for Aussie, in other hand, CAD performed worst last week, BOC decision and statement was not encouraging as BOC still suspected that inflation still temporary and still worry about US measures against Canada, CPI data also was not helpful and ensured BOC thought about inflation, lack of significant data next week but BOC Gov Boloz will speak on Monday.

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As expected 0.9700 area was so attractive for buyers, reversal sign appeared near bottom but there is doubts about how far can the pair go up.

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Aussie continued falling last week but reversed most of its losses before week end, CPI q/q came at +0.4% lower than expected +0.5% but later Import Prices came at +2.1% VS +1.3% expected, Next week focus will be on RBA rate cash and statement, in other hand, CAD performed worst last week Vs majors, no significant data was last week but Wholesale Sales was -0.8% worse than expected at +0.3%, Next week will be important for CAD as we wait GDP m/m and then Trade Balance data.

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0.9700 still strong support and still holds, good sign for bulls.

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AUDCAD bullish aiming 1.0000 and above

General outlook for the pair:
  • The pair moved in the last weeks between 0.9750 and 1.0000.
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Aussie performed very good and made strong week VS majors, Building approvals m/m 17.1% VS 5.1% expected, Trade balance at +1.06B VS +0.21B, RBA rate statement still see low rate helpful for Aussie economy, in other hand, CAD performed very good and made strong week VS majors after heavy losses last week, BOC still see economy progressing well, unemployment rate fell to 5.8% VS 5.9% expected, strong oil prices also help.

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Buyers found again around 1.0000 but sellers prevails around 1.0130, still bullish.

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Aussie performed worst VS majors, no significant data last week, but NAB business confidence fell from 11 to 9, next week will be so important as we can check RBA meeting minutes and Aussie employment data, in other hand, CAD performed worst VS majors, with no significant data last week but manufacturing sales fell -1.0% VS -0.8% expected, CAD still under pressure due to expected trade wars from US, next week CPI and retails sales data will be the most important.

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Pair hit expected target (1.0210) and then fell sharply towards 1.0100, still seen more strength to come.

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Pair continued falling, now holds around 0.9970 after finding buyers around 0.9900.

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AUDCAD to jump towards monthly resistance around 1.0400

General outlook for the pair:
  • The pair moved in the last weeks between 0.9550 and 1.0000.
  • The pair is expected to move in the next month between 0.9900 and 1.0400 as it faces clusters of daily/weekly tops and bottoms.

Pair recent direction : Up

Expected rate of the pair 1st of March, 12:00 GMT:
1.0210
Expected market sentiment: Bullish

Chart of major support (S) and resistance (R):


Weekly chart

Chart of expected scenario:

Daily chart
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khalidamassi avatar

still play in narrow range below 0.9900 and still close above 0.9900 needed to confirm any bullish move.

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Aussie performed mixed as employment data came with expecation, as employment added +16K as expected, unemployment rate at 5.5% as expected, in other hand, CAD did not perform well as still affected by last week employment data and lower oil prices and NATFA issue still to be driver for CAD movement.

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Still above critical 0.9900 and still able to break above 1.000 as expected.

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Aussie seemed bottomed last week against most pairs but selling pressure still high, no significant data for Aussie last week and none for next week so still expected quiet trading for Aussie, In other hand, CAD hit last week by most majors as Core retail sales were so bad as it came at -1.8% VS 0.1% expected, but after Strong CPI date at 0.7% VS 0.4% expected, pair recovered most of the week losses.

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Pair still capped below 1.0000 and now hold around 0.9900, still expect bullish move above 1.0000 as 0.9800 holds.

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AUDCAD to top around 1.0000 before falling

General outlook for the pair:
  • The pair moved in the last weeks between 0.9550 and 0.9900.
  • The pair is expected to move in the next month between 0.9950 and 0.9250 as it faces clusters of daily/weekly tops and bottoms.

Pair recent direction : Up

Expected rate of the pair 1st of February, 12:00 GMT:
0.9387
Expected market sentiment: Bearish

Chart of major support (S) and resistance (R):


Weekly chart

Chart of expected scenario:

Daily chart
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khalidamassi avatar

Strong selling below 0.9800 but pair seemed to have buyers around 0.9700, so next week strategy will be, buy above 0.9800 or sell below 0.9700.

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Aussie gained more traction last week as Aussie got supported from strong retail sales 1.2% from 0.4 expected and strong building approval numbers which came at 11.7% from -0.9% expected and all of this give more demand for Aussie especially against USD, In other hand, CAD dollar still helped strongly with strong gains of oil, CAD but expected US exit from NATFA agreement put strong pressure on CAD and this still expected to weight in the near future.

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0.9700 still strong support for the pair which close around 0.9865 just above critcal lelvel around 0.9850 and this warning sign for bears.

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Aussie gained more traction last week as Aussie got supported from strong Employment data which add 35K employer after 63K month ago,  Aussie data surged and also got help from better Chinese data, In other hand, CAD dollar got a boost from BOC rate hike and still helped with oil gains but worries about NATFA agreement put strong pressure on CAD and this still expected to weight in the near future.

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cleary destroy 0.9900 resistance and now ready to fight around 1.000 again, pair in extreme bullish.

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AUDCAD bearish aiming 0.9500 and below

General outlook for the pair:
  • The pair moved in the last weeks between 1.000 and 0.9600.
  • The pair is expected to move in the next month between 0.9800 and 0.9200 as it faces clusters of daily/weekly tops and bottoms.

Pair recent direction : Down

Expected rate of the pair 2nd of January, 12:00 GMT:
0.9387
Expected market sentiment: Bearish

Chart of major support (S) and resistance (R):


Weekly chart

Chart of expected scenario:

Daily chart
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khalidamassi avatar

Pair hit critical 0.9590 before closing again around 0.9650, mild bullish sign which we should take care from.

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Aussie stabilized after FOMC meeting and solid Aussie numbers, Chinese data also help Aussie to improve well, In other hand, CAD still vulnerable due to lower oil prices and lower GDP in last quarter but BOC still optimistic but this not persuade CAD investors so much.

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Pair closed the week above 0.9800, strong warning sign for pair bears.

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Aussie benefited from Mid-Year Economic and Fiscal Outlook which were better and also with better Monetary Policy Meeting Minutes which help Aussie to hold recent gains around 0.7700, In other hand, CAD dollar was helped at week beginning with strong CPI and retails sales numbers but then lagged by lower GDP data and with dovish speech by BOC Governor.

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Closed above 0.9800 and then failed to close below, this is encouraging indications for bulls, just close below 0.9800 open the door for expected bearish scenario.

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