Flash: AUD/CAD still looks constructive - TDS

FXstreet.com (Barcelona) - AUD/CAD still has an overall constructive look on the short-term chart, notes TDS FX Strategy Team.

Key Quotes

"Short-term pull-back resistance at 0.9628 is holding up the AUD advance and a quick-ish extension higher would be preferable to keep the recovery on track for the upper 0.97s (0.9769 as the 38.2% Fibonacci retracement derived from the 1.07/0.92 drop)."

"An inside day today (so far) warns that that low 0.96 area may develop into something of a short-term hurdle for the cross at least, however."