AUD/CAD chart - Trading View
AUD/CAD Technical Analysis: Bias Bullish
- The pair extends gains above 200-DMA
- Breaks above major trendline resistance at 0.9540
- RSI above 50, bias higher
- Stochs sharply higher, momentum bullish
What Watch:
- Monthly New Housing Price Index (NHPI) from Canada
- Speech from Bank of Canada’s (BOC) governing council member Carolyn Wilkins at the World Bank’s panel discussion.
Support levels - 0.9537 (trendline), 0.9518 (5-DMA), 0.9497 (200-DMA)
Resistance levels - 0.9586 (61.8% Fib), 0.96, 0.9631 (Dec 31 2018 high)
Recommendation: Stay long on dips, SL: 0.9510, TP: 0.9585/ 0.96/ 0.9630
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
