In a reverse of the medium term bearish trend, AUDUSD has established support just above 1.0463. The barrier should lead to some upside potential in the currency pair in the short term, with a close above the 1.0489 figure lending to an extension higher towards 1.0521. Downside potential remains in a break of the 1.0450 barrier.
USDCAD
USDCAD remains pressured ahead of resistance at 0.9905. The barrier should act as impetus for a move lower in the short term, towards support at the 0.9825 December 12th session low. A downside violation of the major support level would precipitate a decline to the 0.9763 October 18th low.
NZDUSD
NZDUSD remains below resistance at the 0.8355 September 28th swing high. A close here would propagate a bearish decline to support via the 0.8254 figure, before any extension lower towards the 0.8170 December 3rd session low. A rebound above the 0.8355 would open scope for a retest of 0.8418.
USDCAD
USDCAD remains pressured ahead of resistance at 0.9905. The barrier should act as impetus for a move lower in the short term, towards support at the 0.9825 December 12th session low. A downside violation of the major support level would precipitate a decline to the 0.9763 October 18th low.
NZDUSD
NZDUSD remains below resistance at the 0.8355 September 28th swing high. A close here would propagate a bearish decline to support via the 0.8254 figure, before any extension lower towards the 0.8170 December 3rd session low. A rebound above the 0.8355 would open scope for a retest of 0.8418.
