{"id":60442,"date":"2014-09-16T08:26:32","date_gmt":"2014-09-16T12:26:32","guid":{"rendered":"http:\/\/countingpips.com\/?p=60442"},"modified":"2014-09-16T09:22:34","modified_gmt":"2014-09-16T13:22:34","slug":"audcad-stable-below-200-day-moving-average","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/09\/audcad-stable-below-200-day-moving-average\/","title":{"rendered":"AUD\/CAD Stable Below 200-Day Moving Average"},"content":{"rendered":"<div id=\"inves-33358470\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">September 16, 2014<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Technical Sentiment: <span style=\"color: #ff0000;\"><strong>Bearish<\/strong><\/span><\/p>\n<p><strong>Key Takeaways<\/strong><\/p>\n<ul>\n<li>The Canadian Dollar maintains a bullish bias against most counterparts;<\/li>\n<li>Aussie had neutral reactions following Monetary Policy Meeting Minutes during Asian trading;<\/li>\n<li style=\"text-align: justify;\">Canadian Manufacturing Sales (bullish expectations) are due at the beginning of the US session on Tuesday;<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><em>As Australian Dollar long positions continue to unwind, AUD\/CAD grinds toward lower support levels. Now that the pair has crossed below the 200-Day Simple Moving Average, investors have set their targets as low as 0.9830 in the short term.<\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><strong>Technical Analysis<\/strong><\/p>\n<p>AUD\/CAD started off the trading week with a very bearish tone, opening with a medium size gap below parity and the 200-Day Simple Moving Average in one shot. Consequently, any scenarios from last week that were focused on a possible exhaustion, followed by a bullish correction, have been temporarily put on hold.<\/p>\n<p><a href=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/09\/AUDCAD16thSeptember.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-6464\" src=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/09\/AUDCAD16thSeptember.png\" alt=\"AUDCAD16thSeptember\" width=\"700\" height=\"348\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">Nearest support level is located at 0.9936, marked by July\u2019s 2014 Low, and it represents a crucial line standing in the way of the main downtrend. Because AUD\/CAD formed three consecutive tops around 1.0225\/32, coupled with Stochastic being located in oversold territory on 1H, 4H and daily timeframes; traders should pay special attention in case a bullish bounce happens at 0.9936. Such a reaction would signal temporary range conditions and could trigger choppy behavior in the coming days.<\/p><div id=\"inves-3797869244\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p style=\"text-align: justify;\">On the other hand, a break and Daily Close below 0.9936 will indicate a very strong desire to test 0.9800 \u2013 0.9830 in the coming days, where we can identify a strong cluster formed between an old price pivot zone (January-February 2014) coupled with the support trendline from AUD\/CAD\u2019s 1-year old bullish channel.<\/p>\n<p>*********<br \/>\nPrepared by Alex Z., Chief Currency Strategist at <a href=\"http:\/\/www.capitaltrustmarkets.com\/\">Capital Trust Markets<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technical Sentiment: Bearish Key Takeaways The Canadian Dollar maintains a bullish bias against most counterparts; Aussie had neutral reactions following Monetary Policy Meeting Minutes during Asian trading; Canadian Manufacturing Sales (bullish expectations) are due at the beginning of the US session on Tuesday; As Australian Dollar long positions continue to unwind, AUD\/CAD grinds toward lower [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-60442","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/60442","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=60442"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/60442\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=60442"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=60442"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=60442"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}