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FxWirePro: FxWirePro: AUD/CAD breaks above 20-day MA, intraday bias higher

AUD/CAD breaks major resistance at 1.0035 (trendline and 20-day MA), intraday bias higher. Technical indicators support upside, we see scope for test of 1.0100 levels. RSI and Stochs are biased higher, the pair is tradin…

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FxWirePro: FxWirePro: AUD/CAD breaks above 20-day MA, intraday bias higher
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  • AUD/CAD breaks major resistance at 1.0035 (trendline and 20-day MA), intraday bias higher.
     
  • Technical indicators support upside, we see scope for test of 1.0100 levels.
     
  • RSI and Stochs are biased higher, the pair is trading well above the daily cloud.
     
  • Major support levels - 1.0052 (1H 20-SMA), 1.0035 (trendline), 1.0022 (Oct 5th lows)
     
  • Major resistance levels - 1.0070, 1.01, 1.0110
    ​

Recommendation: Good to go long on dips around 1.0045/50, SL: 1.0, TP: 1.0070/1.0100/ 1.0120
 

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