AUD/CAD chart - Trading View
- AUD/CAD struggles at stiff resistance at 200-DMA, edges lower from session highs at 0.9514.
- The pair is trading 0.06% lower on the day at 0.9496 at 0700 GMT.
- 200-DMA is major reistance at 0.9517 and decisive break above is required for further upside.
- RSI is above 50, bias higher. Stochs show bullish momentum and MACD supports further upside.
- The pair has edged above 110-EMA and breakout at 200-DMA could see gains till 0.9675.
- Retrace below 110-EMA and break below 55-EMA support could see downside.
Support levels - 0.6489 (110-EMA), 0.9465 (55-EMA), 0.9386 (Mar 14 low)
Resistance levels - 0.9514 (200-DMA), 0.9580 (Jan 31 high), 0.9675 (trendline)
Recommendation: Watchout for break above 200-DMA to go long, target 0.9675
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
