- AUD/CAD struggles to extend gains beyond major trendline resistance (currently at 0.9990).
- Momentum studies for the pair are higher. Stochs biased higher, RSI strength seen above 62 levels.
- Break above major resistance at 0.9990 levels likely to target 1.0062 levels.
- Cloud offers strong support on the downside, weakness likely on break below.
- Major support levels - 0.9944 (cloud top), 0.9932 (23.6% Fib 0.9324 to 1.0120 rise), 0.9914 (10-DMA)
- Major resistance levels - 0.9976 (Sept 19 high), 0.9990 (trendline), 1.0 (Aug 12 high)
Recommendation: Good to go long on breakout above 0.9990, SL: 0.9930, TP: 1.0026/ 1.0062
