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Forex Flash: AUD/CAD breaks up, rethinking the bearish bias – TDS
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FXstreet.com (Barcelona) – AUD/CAD has recently broken thru retracement resistance/recent highs in the 1.0465 area, compromising TD Securities view that the cross had peaked from a medium-term point of view.
“A bearish weekly reversal signal formed last week may be overshadowed by a firm close this week. In the very shortterm, we can allow for a little strength in the AUD beyond 65 but a sustained move up in the next few days will clearly undercut our bearish bias and force a rethink” say Greg Moore, FX Strategist and Shaun Osborne, Chief FX Strategist, at TD Securities.
Article source: http://www.fxstreet.com/news/forex-news/article.aspx?storyid=4f231aa9-7307-4d5a-9728-36e00f124c69
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