
The Australian news pair rose during trading on Thursday for the third day in a row, in light of the scarcity of economic data from Canada and Australia.
We are waiting for Canadian inflation data and then Australian jobs data at the beginning of next week.
However, the differences in monetary policy between the Bank of Canada and Australia may give the Australian dollar some positivity against the Canadian dollar, which has already started cutting interest, while the Reserve Bank of Australia is still waiting and has not yet started cutting.
Technically:
the pair rebounded yesterday from its lows at 0.9020 and we are still looking for further upside for the pair, especially if the downtrend and resistance levels of 0.9080 are broken.
The pair is targeting the levels of 0.9160 and then the levels of 0.9220.
This scenario fails if 0.9015 breaks down.