AUDCAD: A Quiet Grind Up?
asked by u/jihu_y · 6d · 1 answers
Been watching $AUDCAD lately. It's had a pretty tight range today, 0.97551-0.9802, after some decent movement earlier in the week. Given the current price around 0.97841, I'm leaning towards a sustained push above 0.98 by the end of the month. I'd put the odds around 60%.
My reasoning isn't rocket science: the Aussie seems to be finding some footing, and while $AUD isn't setting the world on fire at 0.0936, the general sentiment feels like a slow grind rather than a capitulation. Coupled with what appears to be some CAD weakness brewing, a steady upward crawl seems more likely than a sudden drop. Of course, famous last words and all that.