AUD CAD

AUDCAD Currency Pair Flag

Latest AUD CAD Analysis

AUD Crosses at Key Levels – AUD Chart Pack

In this special publication, we go through a number of AUD/X charts & setups that have caught our attention. We find the AUD at critical areas, which could dictate the directional bias of the AUDTWI in the 2H 2019.

Across our momentum breadth studies for 19 AUD/X pairs:

  • RSI Breadth – 68% bullish.

However, divergence from another key breadth measure underpins the overall negativity.

  • MACD Breadth – 78% Bearish.
AUDJPY 1d Chart

AUDJPY: Risk Barometer AUDJPY retraces of lows after entering a key rejection area. Underlying fundamental themes keep AUDJPY negative. Rate now trading at a key resistance zone at c.76.06. Long-term bias persists to the downside.

Bulls need to work extremely hard to change the technical outlook for the pair. Key topside levels may offer bears some compounding opportunities. 50 EMA at 76.00 coupled with 50% fibo at 76.30 of the April-June weakening have been robust. Moreover, the RSI is failing to breach the 57 level.

Potential topside targets lie at:

  • 76.61 (Cloud base)
  • 77.34 (38.2% fib)
  • 78 (Cloud top)
  • 78.70 (Inverse H&S MPO)

If a position is loaded on the breakout then a risk zone < 75.26 (61.8% fib) would be prudent.

AUDJPY 1d Chart 2

If a short position is established, then aim for shorts below the aforementioned risk zone.

EURAUD: Recent AUD strength clawing back some gains after selloff causes the pair to drop from 2019 highs into the cloud at 1.6068. Bearish themes exacerbated through bearish activity in the MACD. 50% fibo of the April-June rally defending gains for now at 1.6069. Risk > 1.6070 would be prudent for any shorts. Rate has potential for cloud base at 1.5971 or even 76.4% fib at 1.5869.

EURAUD 1d Chart

AUDCAD: Pair trades at a crucial level as AUD continues to underperform CAD. Solid long-term support comes in at 0.9113. Weekly insinuates a cautious tone as RSI diverges and ADX/DMI’s overstretched to the downside. 

AUDCAD 1d Chart

Daily AUDCAD shines a little extra light on key levels. Psychological level 0.92 is stalling bulls from advancing. In addition, 21 EMA lies at this key price providing more problems for bulls. A violation of this level could deepen topside pressures.

A break below 0.9113 would see a potential risk zone > 0.92.

AUDCAD 1d Chart 2

AUDCHF: Recent AUD strength against safe haven CHF at crucial potential turning point. 38.2% fibo @ 0.6949 of Apr-June selloff defending the downside. 50DMA sitting neighbouring @ 0.6957.  A break above may highlight a more risk-on tone in the FX space. A break above 38.2% could potentially see 0.7011 revisited. However, a rejection could see the pair trade lower targeting the 23.6% fibo at 0.6872. This would put risk levels > 0.6949.

AUDCHF 1d Chart

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Other major currency pairs


BUY - rate is expected to increase, i.e. the first currency gains value against the second currency.
SELL - rate is expected to go down, i.e. the first currency is expected to lose value against the second currency.


AUD/CAD – Live and Historical Rates

Featured in the chart above, the AUD/CAD pair isn’t one of the major forex currency pairs. It could be considered a commodity pair given how the countries whose national currencies make it up are heavily dependent on exports of commodities, but due to the relatively low volumes involved, that wouldn’t hold much water either.

The AUD

To understand where the strength of the Australian Dollar comes from, one needs to take a number of basic variables into account. First of all, as said above, the Australian economy is a commodity export-driven one. LNG, Iron Ore, Gold, Crude Oil and Coal make up the lion’s share of these exports. Due to Australia’s geographical proximity to Asia, the AUD is also uniquely exposed to Asian markets, a status which creates certain advantages diversification-wise.

Introduced in 1966, the AUD started out pegged to the GBP. Supported by a stable government and strong forex markets, it currently accounts for some 3.3% of the global forex turn-over, being the 6th most traded currency.

The CAD

Supported by another commodity-export based economy, the Canadian Dollar is currently the 7th most traded currency in the world. In its current form, the CAD was launched in 1858, after a lengthy period of political and economic wrangling concerning the practicality of the concept. The predecessor of the CAD was the Canadian Pound, promoted by the imperial authorities in London, which had been introduced in 1841. The move to the CAD was prompted by the proximity of the US and the attractive trading opportunities which stemmed from this geographical reality.

AUD/CAD Analysis

When trading AUD/CAD, the key factor to watch is the evolution of the EUR/USD pair. A strong USD will negatively impact both currencies. Due to the above detailed economic peculiarities associated with the AUD as well as the CAD, commodity indices corresponding to the two countries also play a major role in analysis.