CitiFX Techs: AUD/CAD rally can continue

  • AUDCAD is in line to post a double bottom off long-term supports around 0.94 with a close above the neckline at 0.9637 (which converges with the 200 day moving average). If confirmed as we expect, the double bottom will target around 0.9875. 
  • Such a development would actually take AUDCAD through the neckline (0.9748) of an even larger double top which would then target around 1.01 (in line with the 2015 high)

AUDCAD

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