Ransquawk

AUDCAD’s currency pair in the uptrend is grappling with a key area of resistance this year, which is located within the parity level.Throughout the second half of January, buyers tried to break this level, but to no avail. As a result, there was a rebound, and the price found support around 0.9785.Quotations, however, returned to the area at 1.0000 in the second half of February. As can be seen in the daily chart below, two attempts to break the resistance failed, but today the price has finally found itself above this area, at the levels seen last in August 2017. Currently however, this is just an increase in intra-day and we should wait until the session is closed so that we can talk about breaking the resistance. Another resistance can be found in the vicinity of 1.0073, where there are maxima from August 2017, and the next one can be seen close to 1.0150.

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Ransquawk