FxWirePro: AUD/CAD holds cloud support, weakness only on break below

AUD/CAD chart on Trading View used for analysis

• AUD/CAD holds support at daily cloud base at 0.9475, bias neutral.
   
• The pair is extending sideways, remains capped below 21-EMA.
   
• Technical indicators are with a neutral bias. The pair is currently trading at 0.95, largely unchanged on the day.
   
• Upside is capped at 21-EMA at 0.9521. Break above could see further upside.
   
• Next major resistance lies at 200-DMA at 0.9572 and we need a decisive break above for further upside.
   
• On the flipside, rejection at 21-EMA and break below cloud will see drag till 61.8% Fib at 0.9360.

Support levels - 0.9475 (cloud base), 0.9440 (50% Fib), 0.9360 (61.8% Fib), 0.9281 (Jan 3rd low)

Resistance levels - 0.9521 (21-EMA), 0.9572 (200-DMA), 0.9616 (23.6% Fib)

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.