FxWirePro: AUD/CAD finds major support at 100-DMA 0.9986, good to long dips

• AUD/CAD has broken strong trendline resistance and edged higher.
   
• 100-DMA at 0.9986 is major support on the downside, weakness only on break below.
   
• Technical indicators support upside in the pair, RSI is biased higher, Stochs have rolled over from oversold and MACD is on verge of a bullish crossover.
   
• Support levels - 1.00 (converged 5&10 DMA), 0.9986 (50-DMA), 0.9860 (trendline)
   
• Resistance levels - 1.0095 (50-DMA), 1.0134 (20-DMA), 1.0157 (Sept 27 high)
   

Recommendation: Good to go long on dips around 1.0070, SL: 0.9980, TP: 1.0135/ 1.0160/ 1.02
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FxWirePro's Hourly AUD Spot Index was at 149.558 (Highly bullish), while Hourly CAD Spot Index was at -76.5577 (Slightly bearish) at 0740 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex