Trade Idea: Long AUD/CAD
FxWirePro's Hourly AUD Spot Index 103.197 (Bullish)
FxWirePro's Hourly CAD Spot Index -89.5286 (Bearish)
Supporting Technicals:
- Bullish divergence on RSI and Stochs
- MACD bullish crossover on signal line
- Stochs and RSI biased higher
- Break above 20-DMA and 5-DMA is sharply higher
Support levels - 0.9834 (20-DMA), 0.9793 (5-DMA), 0.9765 (1H 200-SMA)
Resistance levels - 0.99, 0.9918 (50-DMA), 0.9931 (38.2% Fib retrace of 1.0345 to 0.9675 fall)
Recommendation: Good to go long on dips around 0.9835/45, SL: 0.9765, TP: 0.9860/ 0.99/ 0.9940
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