AUD/CAD had a look above the resistance.......>

FOREX: AUD/CAD had a look above the resistance level provided by the symmetrical

triangle highlighted in MNI Analysis: AUDCAD Imminent Breakout, 13:28 GMT 01/22,

on the back of today's AU labour market release, although NAB's move to raise

variable mortgage rates has pushed the cross back within the triangle, with the

gap between support and resistance ever narrowing.

- AUD/CAD last C$0.9510, 20 pips or so lower on the day.

- Triangle resistance noted at C$0..9532 today, with the session high noted at

C$0.9553. Triangle support noted at C$0.9495. A concerted break to the

upside/close above resistance would target the 61.8% retracement level of the

move from C$0.9784 to C$0.9201 & 200-dma at C$0.9561/77, ahead of a run at the

year-to-date high at 0.9623. While a break to the downside would target the 50%

retracement level of the move from C$0.9105 to C$0.9784 & the Jan 4 low at

C$0.9445/31.