- AUD/CAD is consolidating gains above 1.00 handle after break of major trendline resistance at 0.9970.
- The pair has bounced off 38.2% Fib at 0.9723, broken stiff resistance at 0.9970 and is extending upside.
- For a medium-term outlook, trend is bullish. We see scope for test of 1.0350 levels.
- Weakness only below 23.6% Fib at 0.9817. Violation there could see drag till 0.9650 and then 0.9490 levels.
Recommendation: Medium-term: Buy on dips, SL: 0.9817, TP: 1.0170/ 1.0235/ 1.0350
