FxWirePro: AUD/CAD pauses shy of 200-DMA resistance, break above to test 100-DMA at 0.9827

• AUD/CAD closes above 21-EMA, raising scope for further upside.
   
• Technical indicators are biased higher. Stochs have rolled over from oversold levels.
   
• RSI is above 50 and biased higher and we see a +ve DMI crossover on -ve DMI.
   
• The pair has paused upside just shy of stiff resistance at 0.9817 (converged 200-DMA & 38.2% Fib), break above to see further upside.
   
• Next major resistance above 0.9817  lies at 0.9870 (major trendline).
   
• On the flipside, retrace below 21-EMA could see resumption of weakness.

Support levels - 0.9767 (21-EMA), 0.9751 (50-DMA), 0.9740 (5-DMA)

Resistance levels - 0.98, 0.9817 (200-DMA), 0.9885 (trendline resistance)

Recommendation: Good to go long on dips around 0.9760/70, SL: 0.9720, TP: 0.98/ 0.9820/ 0.9880 

Call update: Our previous call (https://www.econotimes.com/FxWirePro-AUD-CAD-Trade-Idea-1400376) has hit TP1.

Recommendation: Book partial profits at highs. Watch out for breakout at 200-DMA for further upside.

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 124.145 (Bullish), while Hourly CAD Spot Index was at -82.7794 (Bearish) at 0745 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.