FxWirePro: AUD/CAD hovers around 0.94 handle, rejection at 55-EMA keeps bias lower

AUD/CAD chart on Trading View used for analysis

• AUD/CAD is trading around 0.94 at 0925 GMT, up 0.09% at the time of writing.
   
• Rejection of price at 55-EMA keeps bias bearish and we see upside only on break above.
   
• Minor recovery attempts struggle at 5-DMA and technical indicators on the daily charts have turned slightly bearish.
   
• Next major support lies at 0.9360 (61.8% Fib) and further weakness will see weakness till 0.9325 (trendline).
   
• On the flipside, immediate resistance is seen at 0.9440 (50% Fib). Bearish invalidation likely above 55-EMA at 0.9476.

Support levels - 0.9360 (61.8% Fib), 0.9325 (trendline), 0.93

Resistance levels - 0.9412 (5-DMA), 0.9440 (50% Fib), 0.9476 (55-EMA)

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