FxWirePro: AUD/CAD pauses at major trendline resistance at 0.9875, good to go long on break above

• AUD/CAD upside pauses at major trendline resistance at 0.9875, bias higher.
   
• The pair has bounced of 50-DMA support on Tuesday's trade and is up 0.55% on the day.
   
• Price action has broken above 200-DMA and technical indicators are turning bullish.
   
• Stochs and RSI have turned north and MACD is on verge of a bullish crossover on signal line.
   
• Breakout at trendline resistance at 0.9875 will likely see test of 61.8% Fib at 0.9980.
   
• We see bullish invalidation only on break below 50-DMA at 0.9749.

Support levels - 0.9819 (200-DMA), 0.9749 (50-DMA)

Resistance levels - 0.9875 (trendline), 0.9974 (June 6 high)

Recommendation: Good to go long on break above 0.9875 (trendline), target 0.99/ 0.9935/ 0.9980

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 87.8925 (Slightly bullish), while Hourly CAD Spot Index was at -61.5818 (Neutral) at 1025 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.