• AUD/CAD trades a narrow range on the day, with a high of 0.9820 and a low of 0.9785.
   
• Oil-price weakness, after bearish US rigs count report last week likely to keep CAD depressed. 
   
• The pair is holding above major support by 200-DMA at 0.9781, violation there could see test of 0.9722 (50% Fib).
   
• We have evidenced a hammer formation at lows near 0.9761 on Friday's trade, scope for some upside.
   
• 38.2% Fib at 0.9816 is immediate hurdle, break above could see test of 20-DMA at 0.9920.
   
• Stochs are at oversold territory, but other indicators are inconclusive.
   
• We recommend waiting for Stochs rollover from oversold levels, with a price breakout above 38.2% Fib at 0.9816 to go long.
   
• On the flipside, short close below 200-DMA at 0.9781, target 0.9722