AUD/CAD chart - Trading View
AUD/CAD was trading 0.07% lower on the day at 0.9538 at around 10:40 GMT. Price action remains pivotal at daily cloud.
Major trend as evidenced by the GMMA indicator is bullish. However, breach below will open downside.
5-DMA has turned and Stochs and RSI are biased lower, with Stochs showing a bearish rollover from overbought levels.
Price action has slipped below 200H MA. Further, a 'Bearish Divergence' on RSI and Stochs adds downside pressure in the pair.
Major Support Levels:
S1: 0.9537 (nearly converged 200W MA, 21-EMA and Cloud top)
S2: 0.9469 (55-EMA)
S3: 0.9337 (110-EMA)
Major Resistance Levels:
R1: 0.9560 (200H MA)
R2: 0.9581 (5-DMA)
R3: 0.9638 (Upper BB)
Summary: Watch out for break below 0.9530 for weakness. Dip till 55-EMA at 0.9469 likely. Further weakness will see test of 110-EMA at 0.9337.
