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FxWirePro: EUR/ NZD gently bid,a close above a key level needed to tighten grip

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FxWirePro: AUD/CAD Trade Idea

Monday, June 25, 2018 7:02 AM UTC

FxWirePro Currency Strength Index for AUD/CAD: Bias Bullish
FxWirePro's Hourly AUD Spot Index was at 42.6712 (Neutral)
FxWirePro's Hourly CAD Spot Index was at -104.008 (Bearish)

Technical Analysis: Bias Bullish
- The pair has bounced of 50-DMA support
- Price action has broken above 100-DMA
- Stochs and RSI are biased north, RSI shows strength above 50
- MACD is on verge of a bullish crossover on signal line

Support levels - 0.9843 (100-DMA), 0.9820 (200-DMA), 0.9815 (21-EMA)
Resistance levels - 0.9875 (trendline), 0.9898 (cloud top), 0.9974 (June 6 high)

Recommendation: Good to go long on decisive break above 0.9875 (trendline), target 0.99/ 0.9935/ 0.9980

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FxWirePro: AUD/CAD Trade Idea

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