AUD/CAD chart on Trading View used for analysis
- AUD/CAD is trading around 0.94 at 0925 GMT, up 0.09% at the time of writing.
- Rejection of price at 55-EMA keeps bias bearish and we see upside only on break above.
- Minor recovery attempts struggle at 5-DMA and technical indicators on the daily charts have turned slightly bearish.
- Next major support lies at 0.9360 (61.8% Fib) and further weakness will see weakness till 0.9325 (trendline).
- On the flipside, immediate resistance is seen at 0.9440 (50% Fib). Bearish invalidation likely above 55-EMA at 0.9476.
Support levels - 0.9360 (61.8% Fib), 0.9325 (trendline), 0.93
Resistance levels - 0.9412 (5-DMA), 0.9440 (50% Fib), 0.9476 (55-EMA)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
