FxWirePro: AUD/CAD rejected at 1.0008 (strong trendline resistance), good to sell rallies

• AUD/CAD was rejected by strong trendline resistance at 1.0008. The pair is currently trading around 0.9965 levels after hitting session lows at 0.9950.
   
• Momentum studies on daily charts are neutral, however 4-hourlies show downside for the pair.
   
• Immediate support is seen at 0.9952 (4H cloud top), breaks below will see test of 0.9930 and then 0.9910 levels.
   
• On the flipside, immediate resistance is seen at 0.9980 (4H converged 5 & 10 SMA) ahead of strong trendline support at 1.0008. 
   
• Aussie continues to be heavily battered on awful Australian trade data, while weak oil likely to keep pressure on the Loonie.
  ​

Recommendation: Good to sell rallies around 0.9970/80, SL: 1.0010, TP: 0.9950/0.9930/0.9910