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FxWirePro: AUD/CAD Trade Idea

Monday, July 9, 2018 12:48 PM UTC

FxWirePro Currency Strength Index for AUD/CAD: Bias Bullish
FxWirePro's Hourly AUD Spot Index was at 110.395 (Bullish)
FxWirePro's Hourly CAD Spot Index was at -79.1659 (Neutral)

Technical Analysis: Bias Bullish
- Stochs are rolling over from oversold levels
- RSI above 50, biased higher
- Breaks above 50-DMA and 21-EMA
- Downside momentum is fading

Support levels - 0.9763 (21-EMA), 0.9748 (50-DMA), 0.9720 (5-DMA)
Resistance levels - 0.98, 0.9817 (200-DMA), 0.9885 (trendline resistance)

Recommendation: Good to go long on dips around 0.9760/70, SL: 0.9720, TP: 0.98/ 0.9820/ 0.9880

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

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FxWirePro: AUD/CAD Trade Idea

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