• AUD/CAD has been recovering from 6-month lows of 0.9594 on 2nd Jan, but upside remains capped by 20-DMA currently at 0.9723.
   
• The pair has been recovering from 6-month lows of 0.9594 on 2nd Jan. 
   
• Only decisive break above 20-DMA to see extension of upside, we then see scope for test of 50% Fib at 0.9860.
   
• Technical studies do not provide clear indication. RSI and Stochs are at neutral territory, bias higher.
   
• Support levels - 0.9645 (Jan 6 low), 0.9617 (Lower Bollinger band), 0.9580 (Trendline)
   
• Resistance levels - 0.9723 (20-DMA), 0.9731 (61.8% Fib), 0.9795 (Dec 28 high), 0.9822 (200-DMA)
   
• FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 95.2265(Bullish), while Hourly CAD Spot Index was at 87.5474 (Bullish) at 0630 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.