Ransquawk

Last time I watched AUDCAD when it was in the vicinity of the resistance zone close to 0.9700. The quotations were there after the rebound from long-term support around 0.9600. As can be seen in the 4-hour chart below, the bulls managed to break the resistance within 0.9700, and thus continued the short-term upward trend.

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The next stop was the area close to 0.9820. It was there that last week closed, after withdrawing from the high at 0.9330. So if the trend is to be continued, the buyers should again push the quotations to the said high at 0.9330. Another significant resistance for the pair of AUDCAD is visible around the parity level (1.0000). Alternatively, the upward trend will be questioned at the moment of the return of quotations to support within 0.9700.

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Ransquawk