Equities are extending gains a fair bit to start European trading and that is helping to keep the risk mood more upbeat for now. European indices are up over 1% after a decent start while S&P 500 futures are now up 0.6% and Nasdaq futures up 1.0%.
In turn, that is seen AUD/USD pull up to 0.7165 as buyers keep a defense of the 0.7100 on the daily from yesterday. Meanwhile, USD/CAD is down to 1.2580 from around 1.2605 earlier as sellers look to test the 100-hour moving average @ 1.2575 next:
That is the next key near-term support level to watch before the 200-hour moving average @ 1.2544 comes into play.
