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Add as a preferred source on Google FxWirePro: AUD/CAD struggles at 0.9978 resistance, break above targets 1.0026 AUD/CAD struggling to extend gains beyond stiff resistance around 0.9978 levels. Techs on weekly charts are biased higher, we see scope for upside. Break above 0.9978 levels will see test of 1.0026 and then 1.0054 levels…
By FxWire Pro Aug 3, 2016, 5:14 AM UTC
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AUD/CAD struggling to extend gains beyond stiff resistance around 0.9978 levels.
Techs on weekly charts are biased higher, we see scope for upside.
Break above 0.9978 levels will see test of 1.0026 and then 1.0054 levels.
We see major support at 0.9860 levels, weakness only on break below.
Violation at 0.9860 will see drag upto 0.7923 (38.2% Fib).
Recommendation: Good to long on decisive break above 0.9978, SL: 0.99, TP: 1.0026/ 1.0054/ 1.0086
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