Yes, i have had to go looking afar afield as the AUD/CAD to find something i feel comfortable with this week and what a fine currency pair it is.

As the attached daily AUDCAD chart shows, if we fail to break back above 0.8200 we could well be on our back back to the 0.7700 level. It should be noted that the 50 and 100 day MA’s are providing additional resistance in the 0.8170/10 region. So far today we have had another bounce back to the 0.8170 level before coming off sharply again.

I feel that selling in the 0.8120/50 region with a stop above 0.8250 for a potential move to 0.7700 in the coming weeks.