FXstreet.com (San Francisco) - The Australian dollar continued to gain on its Canadian counterpart this Friday in North America, managing to push above key resistance in the 1.0400 price zone this Friday, having rallied to as high as 1.0453 (3-month high) before retreat back to current levels in the 1.0415 area, now recording a 0.4% gain ahead of the closing bell in New York.
AUD/CAD is therefore set to gain ground for a fourth consecutive day, and set to post a 1% gain on the week. Should the advance persist in the week ahead, the pairing may encounter offers at 1.0485 (19 Jan low), then above at 1.0546 (25 Jan low). To the downside, immediate support is noted at the 1.0400 figure, then below at 1.0377 (17 Aug high). At the time of writing, AUD/CAD is operating in consolidation mode above the 1.0400 figure.
AUD/CAD is therefore set to gain ground for a fourth consecutive day, and set to post a 1% gain on the week. Should the advance persist in the week ahead, the pairing may encounter offers at 1.0485 (19 Jan low), then above at 1.0546 (25 Jan low). To the downside, immediate support is noted at the 1.0400 figure, then below at 1.0377 (17 Aug high). At the time of writing, AUD/CAD is operating in consolidation mode above the 1.0400 figure.
