- AUD/CAD struggles at major trendline resistance at 1.0015, bias remains neutral.
- Spinning top formation seen on Tuesday's and Wednesday's trade till now.
- The pair is currently trading at 0.9992 after hitting highs of 1.0022 on the day.
- Upside capped below strong resistance at 1.0028 (200-DMA).
- Investors also look forward to the employment reports from Canada due Friday.
- Decisive break above 1.0015 could propel pair to new heights. On the flipside, break below 20-DMA at 0.9918 could see reversal.
Support levels - 0.9956 (1H 200-SMA), 0.9918 (20-DMA), 0.9907 (weekly 5-SMA)
Resistance levels - 1.0015 (trendline), 1.0028 (200-DMA), 1.0050 (weekly 20-SMA)
Recommendation: Watch out for decisive break above 1.0015 to go long, target 1.0112
FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at -11.317 (Bearish), while Hourly CAD Spot Index was at 38.2802 (Slightly bullish) at 1130 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
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