AUD/CAD has broken above 23.6% Fib of Dec 28th to May 23rd fall) at 0.9523. Techs on weekly charts show scope for further gains in the pair. Stochs are on the verge of a rollover from oversold and RSI is biased north. Up…
Targets almost hit at 0.9587, we recommend booking partial profits at highs. Close above 50-DMA at 0.9567 will see upside resume.
Next major hurdle on the upside above 0.96 levels lies at 0.9646 (38.2% Fib of Dec 28th to May 23rd fall). Break above will see gains upto 0.97 (weekly 20-SMA).
Supports on the downside are seen at 0.9495 (5-DMA), 0.9450 (June 8th lows).
