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Add as a preferred source on Google FxWirePro: AUD/CAD finds stiff resistance at 0.9542, good to sell rallies AUD/CAD is extending downside from 1-month highs of 0.9545 hit on Tuesday. Intraday bias for the pair is lower, pair finds immediate support at 0.9455 (trendline), then 0.9446 (10-DMA). Major resistance is seen at 0.9542…
By FxWire Pro Jun 8, 2016, 7:37 AM UTC
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AUD/CAD is extending downside from 1-month highs of 0.9545 hit on Tuesday.
Intraday bias for the pair is lower, pair finds immediate support at 0.9455 (trendline), then 0.9446 (10-DMA).
Major resistance is seen at 0.9542 (trendline), bearish invalidation only on break above.
Techs on 2H charts support downside. Break below 0.9455 could see test of 0.9385 levels.
Recommendation: Good to sell rallies around 0.9480/90, SL: 0.9545, TP: 0.9455/ 0.9430/ 0.9385
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