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AUD/USD in negative territory this week

FXStreet (Guatemala) - AUD/USD is trading at 0.8810, up 0.26% on the day, having posted a daily high at 0.8815 and low at 0.8784.

Although the pair has crept higher and claimed the 0.88 handle at the end of this week, AUD/USD sold off to and eroded the 0.8840/78.6% retracement of the move seen this year, as noted by Karen Jones, chief analyst at Commerzbank and she said a close below here will regarded as the break down point to 0.8660 this years low. “Note the Elliott wave count on the daily is suggesting a retracement into the 0.8965/0.9047 band. Resistance lies at 0.8955 (23.6% retracement) ahead of 0.9110 high from the 16th September – key resistance is regarded as the 0.9180 200-day ma”.

AUD/USD levels

Support levels: 0.8770, 0.8730 and 0.8700.

Resistance levels: 0.8820, 0.8840 and 0.8885.

USD/CAD: Price action looks constructive - TDS

Martin Schwerdtfeger, FX Strategist at TDS, notes that USD/CAD price action looks constructive across multiple high timeframes.
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