Australia Dollar powers up today and it’s currently trading as the strongest one. Much better than expected job data is a bullish factor for the Aussie. Also, traders are seeing the impact from China’s import restrictions as having little impact to the Australian economy.
AUD/CAD finally follws AUD/USD, and breaks 0.9696 key resistance. Sustained trading above there will confirm resumption of whole rebound from 0.8066 low. Next near term target will be 38.2% projection of 0.8066 to 0.9696 from 0.9247 at 0.9870. Sustained break there could prompt further upside acceleration.
