FxWirePro: AUD/CAD finds stiff resistance by 100-DMA at 0.97, upside only on break above
AUD/CAD is extending downside from 2-month highs of 0.9745 hit on Friday. On the day, the pair was rejected at highs by 0.9699 and is currently trading around 0.9670 levels. The pair finds stiff resistance by 100-DMA at …
AUD/CAD is extending downside from 2-month highs of 0.9745 hit on Friday.
On the day, the pair was rejected at highs by 0.9699 and is currently trading around 0.9670 levels.
The pair finds stiff resistance by 100-DMA at 0.97, only breaks above can see further upside, test of 0.9846 then likely.
On the downside the pair finds strong supports at 0.9647 (38.2% Fib) and then 0.9615 (trendline). Break below 0.9615 could drag the pair lower to 95.23 (23.6% Fib).
Technicals are inconclusive, Stochs are at overbought, but do not show a rollover as yet. RSI has turned lower but is still at 61 levels with scope to run.
