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AUDCAD Looking Up Again

by Ashraf Laidi
Feb 16, 2009 13:42

AUDCAD Looking Up Again - AUDCAD Feb 16 (Chart 1)

AUDCAD seen pushing higher after the latest negative CAD figures, this time was the biggest decline in manufacturing orders and prolonged foreign selling of Canadian securities. 0.8150 seen as the next upside target, followed by 0.8220. Weekly slow stochastics also a bullish crossover, which suggests 0.8320 for the intermediate term. CAD negativity also seen prolonged ahead vs USD and EUR. Foundation seen holding at 0.800.

 

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