AUDCAD is the abbreviation for the Australian dollar and Canadian dollar currency pair. It is a relatively stable pair although it is not as commonly traded as the major pairs. Both currencies are regarded as commodity currencies as they are heavily dependent on commodity exports, therefore sensitive to broader commodity price trends. Traders should, therefore, watch out for the commodity indices that correspond to each of these countries. Another key element to consider in this pair is the strength of the USD and the euro as a strong USD will bring both currencies off their highs. As the economic situation in China has a strong influence on the AUDUSD pair, traders should also have an idea of how the Chinese economy is doing.