FxWirePro: AUD/CAD rejected at highs by 0.9628, bias lower, good to sell rallies

• AUD/CAD is extending downside from 2-month highs of 0.9745 hit on Friday (0.9746 is 50% Fib retrace of Dec 2015 to May 2016 fall).
   
• On the day, the pair was rejected at highs by 0.9628 and is currently trading around 0.9607 levels.
   
• The pair has slipped below  0.9647 (38.2% Fib) and trendline support at 0.9620 (resistance turned support). Downside on track to test 50-DMA at 0.9529.
   
• On the downside the pair now finds supports at 0.9523 (23.6% Fib) and resistance on the upside is located at 0.9620 (trendline).
   
• Technicals have turned bearish, Stochs have rolled over from overbought, RSI has turned lower.
   

Recommendation: Good to sell rallies around 0.9610/15. SL: 0.9650, TP: 0.9530/ 0.95