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- AUD/CAD has broken major trendline support at 0.9920, intraday bias lower.
- Technical indicators support downside in the pair. RSI and Stochs are biased lower, MACD shows a bearish crossover.
- Major support on the downside is seen at 0.9848 (weekly 200 MA) and then at 0.9775 (200-DMA).
- On the flipside major resistance is seen at 0.9925 (20-DMA) and then at 0.9953 (16th Aug high).
Recommendation: Good to go short on rallies around 0.9892, SL: 0.9930, TP: 0.9850/ 0.98/ 0.9775
