FxWirePro: AUD/CAD finds major resistance at 20-DMA, further upside only on break above

AUD/CAD chart on Trading View used for analysis

• AUD/CAD trades rangebound on the day, ongoing US-China trade spat to keep pressure on the Aussie.
   
• The pair finds stiff resistance at 20-DMA and a decisive break above is required for further upside.
   
• Broader sell-off in global stock markets is likely to keep high-beta currencies like the AUD in check.
   
• Focus on RBA Meeting Minutes along with the latest Australia Unemployment numbers for September.
   
• 5-DMA is immediate support at 0.9241, break below will see resumption of weakness. 

Support levels - 0.9241 (5-DMA), 0.9198 (Oct 11 low), 0.9104 (Oct 4 low)

Resistance levels - 0.9288 (20-DMA), 0.93 (23.6% Fib), 0.9403 (50-DMA and trendline)

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.