FxWirePro: AUD/CAD extends range trade below 61.8% Fib, minor bullishness likely on break above 0.9740

• AUD/CAD is extending range trade below 61.8% Fib at 0.9734.
   
• Bias lower as long as trendline resistance at 0.9740 holds.
   
• Price action in the pair remains below major moving averages.
   
• That said, momentum indicators are at oversold levels.
   
• Breakout above trendline resistance at 0.9740 with rollover from RSI and Stochs from o/s zone could see upside.
   
• We then see scope for test of 200-DMA at 0.9834. On the flipside, next major support lies at 0.9682 (Dec 20 low).
   
• Support levels - 0.97, 0.9682 (Dec 20 low), 0.96, 0.9578 (June 30 low), 0.9553 (78.6% Fib of 0.9322 to 1.0392 rally)
   
• Resistance levels - 0.9734 (61.8% Fib), 0.9740 (trendline), 0.98, 0.9834 (200-DMA)
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FxWirePro's Hourly AUD Spot Index was at -79.3947 (Highly Bearish), while Hourly CAD Spot Index was at -99.0765 (Highly Bearish) at 0630 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.