FxWirePro: AUD/CAD holds trendline support, good to go long on dips around 0.99

AUD/CAD extends higher after taking support by trendline at 0.9860, we see scope for further gains.

• Price action is above the daily cloud and 200-DMA, cloud top at 0.9874 also offers strong supports on the downside.
   
• Technically, RSI points north, while daily Stochs have bounced off from 20 levels and biased higher.
   
• Brent oil is down on the day after four days' winning streak, weighing on the Loonie, supporting gains for AUD/CAD.
   
• The pair is currently trading at 0.9911, above 5-DMA at 0.9905 and next immediate hurdle aligned at 0.9941 (10-DMA).
   
• Supports on the downside are seen at 0.9874 (cloud top), 0.9860 (session lows and trendline support) and then at 0.9843 (Jan 8 lows).

Recommendation: Good to go long on dips around 0.99, SL: 0.9860, TP: 0.9940/60/80