AUD/CAD chart - Trading View
- AUD/CAD trades 0.31% higher on the day at 0.9523 at 1250 GMT.
- Aussie buoyed after speech from RBA’s Debelle and positive Westpac consumer confidence index.
- The pair holds gains above 200-DMA and intraday bias is bullish.
- Technical indicators support gains. Scope for upside til 0.9645 (major trendline).
- Immediate resistance is seen at 0.9540 (trendline). Good to stay long on break above.
- Failure to hold above 200-DMA could see resumption of weakness. Dip till 0.9415 likely.
Support levels - 0.95 (nearly converged 200 and 5 DMA), 0.9477 (55-EMA), 0.6447 (Jan 25 low)
Resistance levels - 0.9540 (trendline), 0.9552 (Upper BB), 0.96
Recommendation: Good to stay long above 0.9540, SL: 0.95, TP: 0.96/ 0.9630/ 0.9665
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
