AUD/CAD chart - Trading View
AUD/CAD slumps over 0.80% on the day to hit 4-month lows, bias strongly bearish.
The pair has broken strong support at 110-EMA and is currently hovering around 23.6% Fib at 0.9311.
Technical analysis support further weakness in the pair. Price on track to test 200-DMA support at 0.9176.
Australian dollar has been under pressure following comment's from RBA governor Philip Lowe and poor China inflation data.
Lowe's comments stoked possibility for the Reserve Bank of Australia to cut interest rates to support the economy.
Further, China's price pressures for both producers in the PPI and consumers in the CPI have missed expectations adding pressure on the commodity currencies.
Immediate support for the pair is seen at 23.6% Fib at 0.9311 ahead of 110W EMA at 0.9299. While resistance aligns at 110-EMA at 0.9405 and then 5-DMA at 0.9418.


FxWirePro: USD/ CNY remains soft ahead of Fed decision
FxWirePro: GBP/USD rises as soft US data pressures dollar
FxWirePro: GBP/AUD gains above 1.9200 level , upside pressure builds
FxWirePro: USD/ZAR firms ahead of Fed interest rate decision
JPY Pairs Action Bias: EURJPY Leads as Bullish Standout Amid Mixed Momentum
FxWirePro- Major Crypto levels and bias summary
Major FX Action Bias & US Market Sentiment: NZD/USD (Extremely Bullish) & AUD/USD (Bullish) Watchlist
NZDJPY Bullish Rebound: Buy Dips as EMAs Align for 97 Target
FxWirePro: AUD/USD dips below lower range, bearish bias increases
FxWirePro: USD/CAD slips after Fed holds rates steady
FxWirePro : GBP/NZD strongly bearish despite upside attempts
EURUSD Spikes to 1.14306 on Fed Pause as Traders Eye Sell-the-Rally Setup
Major Forex Pairs Action Bias: GBPUSD and AUDUSD Turn Extremely Bearish
Buy the Dips on EUR/JPY: Bullish Structure Points to 188 Target Ahead of Fed
FxWirePro- Woodies pivot (Major) 



