AUD/CAD was rejected by strong trendline resistance at 1.0035 on Monday and is extending downside to currently trade at 0.9967.
- The pair has been rejected multiple times at strong trendline resistance and any bullishness can be seen only on breaks above.
- Formation of inverted hammers at highs on Monday and Tuesday trade builds scope for downside.
- The pair has support at 0.9963 (5-DMA) and then at 0.9936 (10-DMA), breaks below will find next support at 0.9920 (cloud top).
- On the upside we see strong resistance at 1.0030 (trendline) ahead of 1.0054 (Mar 9th highs).
