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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
AUD
AUD/CAD has struggled to take out the prior intraday high at C$0.9990, with a contact flagging suspected profit taking ahead of the psychological C$1.0000 figure. The rate last sits at C$0.9968, 18 pips below neutral levels.
- The recent rally saw the RSI climb above the 70 threshold, indicating overbought conditions. The index has now dipped back below that level, sending a bearish signal.
- Meanwhile, a bearish divergence has been unfolding in the RSI, as the index failed to print a higher high, even as AUD/CAD punched through the previous cycle peak.
- Bears look for a deeper sell-off, through the C$0.9822-27 area, which provided support on Feb 15-17. This would open up the 50-DMA at C$0.9805, intersecting near Feb 11 low & round figure of $0.9800.
- Topside focus falls on the C$1.0000 level would prompt bulls to set their sights on C$1.0243, the high print of Mar 14, 2018.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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