FXstreet.com (San Francisco) - The sharp retreat in AUD/CAD from 61.8% Fibonacci resistance of the 1.0481/0.9953 downswing has extended to fresh 10-day lows in North America, having broken below support in the 1.0360 area backed with strong momentum to trade as low as 1.0330.
At the time of writing, the pairing is hovering just a few pips above the session low, recording a 1.1% loss on the day. A glance at the weekly timeframe chart suggests there is room for the downward pressure to continue until the 1.0300 price zone where a cluster of MAs may provide dynamic support.
At the time of writing, the pairing is hovering just a few pips above the session low, recording a 1.1% loss on the day. A glance at the weekly timeframe chart suggests there is room for the downward pressure to continue until the 1.0300 price zone where a cluster of MAs may provide dynamic support.
