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FxWirePro: AUD/CAD extends upside for the 4th straight session, focus on Canada jobs data for further impetus
AUD/CAD chart - Trading View
AUD/CAD was trading 0.25% higher on the day at 0.8749 at around 09:20 GMT.
The pair is extending upside for the 4th straight session, bias remains bullish.
Technical studies support upside in the pair. Stochs and RSI are sharply higher. Volatility is rising as evidenced by widening Bollinger bands.
GMMA indicator shows major trend is neutral, while minor trend is bullish. MACD also supports uptrend.
Price action has edged above 50-DMA and 55-EMA, eyes next immediate resistance at 0.8792 (cloud base).
Focus on Canada employment data due later today along with China CPI for further impetus.
Scope for test of 200-DMA at 0.8951. Failure to hold above 21-EMA (0.8632) negates any bullish bias.