FxWirePro: AUD/CAD pauses downside shy of 23.6% Fib, resumption of weakness eyes 200-DMA at 0.9180

AUD/CAD chart - Trading View 

AUD/CAD was trading 0.24% higher on the day at 0.9352 at around 06:35 GMT.

The pair is extending weakness below 110-EMA and is pausing downside above 23.6% Fib support at 0.9311.

The Australian dollar remains bid despite mixed China data dump with support from improving market sentiment.

Asian stocks rise alongside gains in the S&P 500 futures on renewed expectations for additional US fiscal stimulus and coronavirus vaccines before the end of the year. 

Technical bias for the pair remains bearish. Upside lacks traction. Resumption of weakness will see test of 200-DMA at 0.9180.

5-DMA is immediate resistance at 0.9373. Retrace above 110-EMA negates bearish bias.

Support levels - 0.9311 (23.6% Fib), 0.9180 (200-DMA)

Resistance levels - 0.9404 (110-EMA), 0.9453 (21-EMA)