FxWirePro: AUD/CAD struggles at 21-EMA, good to go long on close above

• AUD/CAD struggles to hold break above 21-EMA, edges lower from session highs at 0.9696.
   
• The pair has formed a Doji at highs on the day's candle till now, scope for some downside.
   
• Price holds above 5-DMA at 0.9640, trades 0.13% higher on the day at 0.9683 levels.
   
• Technical studies are turning bullish. Decisive breakout at 21-EMA could see further upside.
   
• Stochs have shown a rollover from oversold levels. We also evidence bullish divergence on RSI and Stochs which adds to the bullish bias.
   
• Breakout at 21-EMA will see test of 23.6% Fib at 0.9716. Further bullishness could take the pair to 50-DMA at 0.9803.
   
• On the downside, we see strong support at 5-DMA at 0.9641, break below targets major trendline support at 0.9550.

Support levels - 0.9677 (21-EMA), 0.9641 (5-DMA), 0.96, 0.9588 (May 16 low)

Resistance levels - 0.9716 (23.6% Fib), 0.9785 (Nov 30 high), 0.9803 (50-DMA)

Recommendation: Watchout for breakout at 21-EMA to go long. Target 0.9716/ 0.9785/0.98. 

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