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AUD/CAD has been trading a falling channel and price action has been contained within the cloud.
- Strong resistance for the pair lies at 0.9960 (channel top), further bullishness can be seen only on breaks above.
- Immediate support on the downside is seen at 0.9873 (10-DMA) and then 0.9865 (5-DMA).
- Downside in the pair is being supported above 5-DMA, breaks below could take the pair to 0.9710 and the 0.9660 levels.
Recommendation: Good to short on breaks below 0.9860, SL: 0.9930, TP: 0.9710/0.9660
