The Australian dollar extended its overnight bullish trend against its Canadian counterpart on Friday morning in Asia, rising to a 3-day high of 0.9514, up from yesterday's 4-month low of 0.9412.
The pair briefly touched the trend-line resistance of a descending channel in the daily time frames and the likelihood of reversing direction is in the offing, towards the trend-line support around the 0.93 level in the channel.
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