Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: AUD/CAD holds 200-DMA support, weakness only on break below

  • AUD/CAD has edged higher from session lows at 0.9852 to currently trade around 0.9872 levels.
     
  • The pair has taken major support by 200-DMA at 0.9841. We see weakness only on break below.
     
  • Technical studies are biased lower. Major DMA point south, RSI and Stochs are biased lower.
     
  • Break below 200-DMA could accentuate weakness, test of 61.8% fib at 0.9731 then likely.
     
  • Support levels - 0.9841 (200-DMA), 0.9761 (Aug 19 low), 0.9731 (61.8% Fib)
     
  • Resistance levels - 0.99, 0.9951 (5-DMA), 0.9957 (50% Fib)
     

Recommendation: Short break below 200-DMA at 0.9841, SL: 0.99, TP: 0.9760/ 0.9730

FxWirePro's Hourly AUD Spot Index was at -55.5307 (Neutral), while Hourly CAD Spot Index was at 41.5667 (Neutral) at 1300 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.