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FxWirePro: AUD/CAD Near-Term Outlook

AUD/CAD chart - Trading View 

AUD/CAD pauses upside at 0.94 handle, bias remains bullish.

The pair is extending recovery from multi-month lows at 0.9201.

Technical studies are biased higher. Momentum with the bulls. Stochs and RSI are sharply higher.

MACD is showing a bullish crossover on signal line. GMMA indicator has shown a shift in trend on the 4 hourly charts.

Price action has bounced off with a Doji formation on the 4H charts. Break above 4H 200-SMA will see further gains.

Price action has broken above 21-EMA, consolidates below 55-EMA at 0.9402. Next major bull target lies at 200-DMA at 0.9450. 

21-EMA is strong support at 0.9352. Break below will see weakness till lower BB at 0.9217.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

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