- The pair has broken major trendline support at 0.9825, is currently struggling to break below strong support at 100-DMA at 0.9797.
- Weakness in crude oil prices weighing on the CAD, supporting upside in the pair.
- AUD/CAD is trading 0.08% higher on the day around the 0.98 handle, up from session lows at 0.9783.
- Technical studies still support downside in the pair. RSI and Stochs are biased lower.
- We see -ve DMI dominance and ADX is above 25 levels and rising which supports trend lower.
- Below 100-DMA the pair finds next major support at 0.9777 (cloud top). Breach at cloud support will accentuate weakness.
- On the flipside, close above 5-DMA will see upside till 200-DMA. Breakout at 200-DMA will negate bearish bias.
Support levels - 0.9797 (100-DMA), 0.9777 (cloud top) 0.9710 (Jan 5 low)
Resistance levels - 0.9838 (5-DMA), 0.9885 (200-DMA), 0.9907(20-DMA)
Call update: Our previous call (https://www.econotimes.com/FxWirePro-AUD-CAD-holds-200-DMA-support-at-09897-good-to-go-short-on-break-below-1126870) has hit TP1/2.
Recommendation: Book partial profits. Watch for break below 100-DMA for further weakness.
FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at -67.6301 (Neutral), while Hourly CAD Spot Index was at 0.591943 (Neutral) at 0740 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest


BTCUSD Dips Post-BOJ Hike: No Swift Tightening Boosts Risk – Buy Around $87K Targeting $100K
USDCHF Triple Bottom at 0.7920 Under Threat: Bearish Signals Dominate – Sell Rallies Targeting 0.7865
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Major Pair levels and bias summary
FxWirePro: EUR/AUD runs out of steam but maintains bullish outlook
FxWirePro: EUR/NZD uptrend loses steam but outlook still bullish
FxWirePro- Major Pair levels and bias summary
FxWirePro: GBP/AUD moves lower on weak UK data
FxWirePro- Woodies Pivot(Major)
FxWirePro: GBP/NZD attracts buying interest, 38.2% fib eyed
CADJPY Pulls Back on Weak Canadian Retail Data: Dips to 113 Prime Buying Opportunity Targeting 116
FxWirePro: GBP/NZD retreats slightly but trend is still bullish
FxWirePro:EUR/AUD eases but bullish outlook persists
FxWirePro: EUR/NZD uptrend loses steam, remains on bullish path
FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook
NZDJPY Whipsaws After BoJ Hike: Buy-the-Dip Setup Above 89 With Eyes on 92 



