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FxWirePro: AUD/CAD rises from lows of 0.9897, finds strong resistance at 0.9950

  • AUD/CAD downside on Tuesday found support by the daily cloud, currently spanning 0.9778 to 0.9884. 
     
  • The pair took support by cloud top at 0.9893 and edged higher to currently trade around 0.9941 levels.
     
  • Momentum studies on daily charts are neutral, the pair is extending range trade between 1.0053 and 0.9864.
     
  • Immediate support is seen at 0.9919 (Mar 9th lows), 0.99 and then 0.9984 (daily cloud top).
     
  • On the flipside, immediate resistance is seen at 0.9946 (5-DMA), 0.9949 (10-DMA) ahead of strong trendline support at 1.0004. 
     
  • Momentum studies neutral, technical indicators are inconclusive, we prefer to remain on the sidelines for now.
     
  • Market Data
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