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Flash: AUD/CAD remains in consolidation mode – TD Securities

FXstreet.com (London) - TD Securities research teams said that the AUD/CAD remains in consolidation mode, a little above the recent lows.

Adding, that there have been some positive price signals over the past week or so but the AUD cannot really hold a bid at the moment. Still, they think it remains encouraging that the cross has found steady and consistent support in the low/mid 0.99 area and that the base of the range major support for this market that has held AUD corrections/declines since 2011 remains intact.

They do think the market is putting in a lot of work here and trying to get a rebound going. Gains through daily trend resistance around par would be supportive of a modest recovery (1.02/1.0250)

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