FxWirePro: AUD/CAD trade idea - long dips for 1.00

• AUD/CAD intraday bias higher, good to go long on dips.
   
• The pair has held strong support by 20-DMA and we see weakness only on break below.
   
• Technical studies have turned bullish on intraday charts after close above 5-DMA.
   
• The pair has broken above 38.2% Fib retrace of 1.0397 to 0.9643 fall at 0.9931. Scope for test of 50% Fib at 1.00.
   
• Support levels - 0.9910 (5-DMA), 0.9885 (20-DMA), 0.9844 (50-DMA), 0.9830 (200-DMA)
   
• Resistance levels - 0.9965 (100-DMA), 1.0020 (50% Fib), 1.0109 (61.8% Fib)
   

Recommendation: Good to go long on dips around 0.9930, SL: 0.9885, TP: 0.9965/ 1.00/ 1.0045
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FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 107.794(Bullish), while Hourly CAD Spot Index was at 60.1063 (Bullish) at 0550 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.