FxWirePro: AUD/CAD rejected at 5-DMA, bearish RSI divergence builds scope for downside

• Aussie supported during early Asian session on Monday from upbeat Australian corporate profits data. 
   
• However, a mild weakness in commodity space, especially copper, failed to extend additional support.
   
• On the other side, data released last week showed Canadian small business confidence rose to 62.9 in Feb, hit 2-year high.
   
• AUD/CAD was rejected at 5-DMA at 1.0088, the pair has slipped lower to currently trade at 1.0075. 
   
• Bearish RSI divergence on daily charts builds scope for downside. But weakness only on break below 20-DMA.

Support levels - 1.0031 (20-DMA), 1.0023 (Feb 24 low), 1.0008 (Weekly 5-SMA)

Resistance levels - 1.0088 (5-DMA), 1.0099 (Feb 16 high), 1.0156 (Feb 22 high)

TIME  TREND INDEX  OB/OS INDEX    

1H          Neutral               Neutral       
4H          Bullish               Neutral       
1D          Neutral               Neutral        
1W         Bullish                Neutral      

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at -68.1476(Bearish), while Hourly CAD Spot Index was at 42.837 (Neutral) at 0740 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.