FxWirePro: AUD/CAD breaks below 200-DMA at 0.9692, good to sell rallies

• AUD/CAD slump post dismal Australia's CPI data on Wednesday saw the pair break below strong 200-DMA support at 0.9692.
   
• Bearish bias in the pair has risen and momentum studies heavily tilted to the downside.
   
• Major moving averages are biased lower, RSI deeply in oversold zone and MACD points south.
   
• Downside finds next major support at 0.9434 (Nov 17th lows), breaks below will see next support at 0.9361 (Oct 16th lows).
   
• Resistance on the upside aligns at 0.9687 (5-DMA), 0.9692 (200-DMA) and 0.9750 (trendline support turned resistance).
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Recommendation: Good to sell rallies around 0.96 levels, SL: 0.9750, TP: 0.95/0.9450/0.94/0.9361