FxWirePro: AUD/CAD finds major support by 50-DMA at 0.9812, weakness only on break below
Thursday, August 25, 2016 9:17 AM UTC
- AUD/CAD price action was rejected at session highs by 0.9868, pair currently trades around 0.9845 levels.
- Downside finds major support by 50-DMA at 0.9812, we see weakness only on break below.
- Momentum studies are neutral, Stochs are on the verge of a rollover from oversold levels.
- Close above 10-DMA at 0.9854 will see next hurdle at 20-DMA by 0.9917 and then 0.9932 (23.6% Fib).
- Break below 50-DMA at 0.9812 will find next support at 0.9774 (cloud top) and then 0.9761 (Aug 19 low).