AUDCAD

AUDCAD Trading

Introduction to AUD/CAD

If you are new to forex trading or you are not too familiar with the AUD/CAD pair, you should know it is a great pair to trade. It is not only exciting because of its unusual features but can also be a lucrative trading pair for you. The acronym for the currency pair, the Australian dollar, and the Canadian dollar are AUD/CAD. It is a cross-currency pair. AUD is the base currency, and CAD is the currency of quotes. 

The AUD/CAD value is the number of Canadian dollars needed to get one Australian dollar. It is stated as 1 AUD per X amount in CAD. 

For instance, if the value of the AUD/CAD pair is 0.305, then 0.305 CAD is needed to buy one AUD. 

About the Australian Dollar

The Australian dollar is the currency of Australia. The outlying territories are the island of Christmas, Cocos, and Norfolk. In the independent Pacific Island states, Kiribati, Nauru, and Tuvalu, the Australian dollar is also used.
 
It is Australia’s legal tender, and it is abbreviated with the dollar sign ($), although it uses the AUD code. A$ or AU$ is used to differentiate it from other currencies denominated in dollars.

About the Canadian Dollar

 
 
The national currency of Canada is the Canadian dollar (CAD).  1 The Canadian dollar is made up of a hundred cents and is sometimes represented with ‘C$’. This differentiates it from other dollar-denominated currencies, such as the Australian dollar (AUD).
 
The Canadian Dollar is a hard currency because it comes from a nation that is monetary and politically steady. The cash will in general be steady (over moderately brief periods). The CAD currency is a reserve currency held by remote national banks since the monetary emergency of the late 2000s.

Technical Analysis For AUDCAD

This pair shows a cross-currency rate when compared to the US dollar. When buying or selling this currency, you should always consider the rates of EUR/USD, GBP/USD, and USD/JPY. These related pairs may indicate when the AUD/CAD is oversold or overbought. In Spite of the absence of the US national currency in the AUD/CAD pair, the US dollar greatly affects its trading rate. Which is manifested as a correlation with the charts of AUD/USD and USD/CAD.

In using technical analysis tools, traders can use all available methods. This may range from graphical patterns, indicators, candlestick patterns, and figures. The highest trading activity of AUD/CAD is observed during the Pacific session.

Fundamental Analysis For AUDCAD

This pair shows a cross-currency rate when compared to the US dollar. When buying or selling this currency, you should always consider the rates of EUR/USD, GBP/USD, and USD/JPY. These related pairs may indicate when the AUD/CAD is oversold or overbought. In Spite of the absence of the US national currency in the AUD/CAD pair, the US dollar greatly affects its trading rate. Which is manifested as a correlation with the charts of AUD/USD and USD/CAD.

In using technical analysis tools, traders can use all available methods. This may range from graphical patterns, indicators, candlestick patterns, and figures. The highest trading activity of AUD/CAD is observed during the Pacific session.Read More

Trading Tips For AUDCAD

Considering that this is a commodity pair, a search on the performance of minerals like gold, palladium, and silver, etc, will give you a pretty good idea about what the AUD is doing. For the CAD, monitoring the oil markets and oil prices will give a description of its performance. One other interesting point when exchanging any AUD pair is

Considering that this is a commodity pair. A search on the performance of minerals like gold, palladium, and silver, etc, will give you a pretty good idea about what the AUD is doing. For the CAD, monitoring the oil markets and oil prices will give a description of its performance. When exchanging any AUD pair, the financial circumstance in China. The Chinese market represents very 33% of Australian exports. Thus, a slowdown in China shows a diminishing interest for Australian merchandise and this converts into a slower AUD too
 
The inverse is valid too, a solid Chinese interest might be compared to a more grounded Australian dollar. In any case, the most significant viewpoint to consider is the way that the AUD/CAD cross is paying a positive trade. Traders intrigued by this are driving the pair. 
A positive trade implies that every long exchanging day in the pair will get an interesting value with the trade investment.

the financial circumstance in China, as the Chinese market represents very 33% of Australian exports. Thus, a slowdown in China shows a diminishing interest for Australian merchandise and this converts into a slower AUD too. 

The inverse is valid too, a solid Chinese interest might be compared to a more grounded Australian dollar. In any case, the most significant viewpoint to consider is the way that the AUD/CAD cross is paying a positive trade, traders intrigued by this are driving the pair. 

As a side note: a positive trade implies that every single exchanging day the long in the pair will get an interesting value proportionate with the trade investment.

AUD/CAD Trade Volume, Statistics, History

In October 2008, the exchange rate reached the lowest value of 0.7584 and the highest value of 1.0696 was reached in February of 2012. On trade relations between Australia and Canada. Canada imports 0.74% of all exports from Australia, Australia imports 0.38% of all exports from Canada.

What is the Best Time to Trade the AUD/CAD Pair?

You can exchange forex sets whenever. There are prime occasions to exchange the AUD/CAD when the money pair is unpredictable. The AUD/CAD is volatile somewhere in the range of 19:00 and 04:30 (GMT).  You ought to likewise realize that AUD/CAD may have a similar unpredictability rate as the EUR/GBP pair. Some of the time the volatility may get to more elevated levels, particularly if the rates are higher or lower than the traders’ projection.
 
At the point when the market is quiet, the value moves equivalent to for different majors.

What Drives the AUD/CAD Pair?

For the Canadian dollar, the main driver remains the oil prices, while for the Australian dollar the metals are the main driver. If you check the AUD pair together with the gold, silver, platinum, or palladium prices, you will find many correlations.
 
The relentless shift of the AUD to the CAD exchange rate appeals to traders seeking to enjoy price uncertainty. Others may find this ever-shifting trend overwhelming. It is crucial to consider what fields of analysis are required to explain how the market may change. The Australian dollar is also a commodity currency, not the oil market but the metals are the main driver. If you watch the AUD pair together with the gold, silver, platinum, or palladium prices, you will find many correlations

FAQ's

Metals are the main driver. 

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