FxWirePro: AUD/CAD holds 20-DMA support at 0.9873, good to go short on break below

• AUD/CAD holds 20-DMA support at 0.9873 and has edged higher to currently trade at 0.9903.
   
• We see weakness on break below, scope then for test of 200-DMA at 0.9828.
   
• Stochs are biased lower and MACD is showing a bearish crossover on signal line.
   
• The pair is pivotal around 0.9826 levels (200-DMA), break below will accentuate weakness. We then see scope for test of 0.9650 levels.
   
• On the flipside, close above 5-DMA at 0.9896 could see test of 1.00 (50% Fib retrace of 1.03975 to 0.96450 fall).

TIME  TREND INDEX  OB/OS INDEX    

1H          Bullish               Neutral       
4H          Bullish               Neutral       
1D          Neutral              Neutral        
1W         Bearish              Neutral  

Support levels - 0.9873 (20-DMA), 0.9858 (Jan 31 low), 0.9844 (50-DMA), 0.9828 (200-DMA)

Resistance levels - 0.9933 (38.2% Fib), 1.0021 (50% Fib), 1.0040 (cloud top)

Recommendation: Good to go short on break below 0.9870, SL: 0.9830/ 0.98/ 0.9775

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 46.6078(Neutral), while Hourly CAD Spot Index was at 56.1081 (Bullish) at 0850 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.