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FxWirePro: AUD/CAD holds above cloud base, weakness only on breaks below

Wednesday, April 13, 2016 6:41 AM UTC

AUD/CAD has broken range trade and price action has slipped into the daily cloud.
Long upper wicks successively on daily candles suggests selling pressure, pair struggling to extend upside.
Momentum studies are neutral, pair is holding above cloud base support, only break below will see scope for further downside.
Resistance on the upside is located at 0.9812 (5-DMA) ahead of 0.9884 (cloud top).
Downside in the pair has found support by cloud base at 0.9799, breaks below will find next support at 0.9715 (rising trendline).

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FxWirePro: AUD/CAD holds above cloud base, weakness only on breaks below

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