AUD/CAD chart - Trading View
AUD/CAD Technical Analysis: Bias Bullish
- Edges higher from session lows at 0.9553
- Extends gains above 200-DMA and daily cloud
- RSI above 60, bias higher
- Momentum studies bullish, Stochs sharply higher
- Capped below 61.8% Fib, break above eyes trendline resistance at 0.9655
Data Watch:
- Focus on Bank of Canada’s (BOC) business outlook survey report for further impetus
Support levels - 0.9540 (5-DMA), 0.9496 (200-DMA), 0.9456 (cloud top)
Resistance levels - 0.9586 (61.8% Fib), 0.9631 (Dec 31st high), 0.9655 (Trendline)
Recommendation: Good to stay long on dips, SL: 0.9540, TP: 0.9585/ 0.9630/ 0.9650
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
