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- Major resistance – 0.9745 (233- 4 H MA).
- AUD/CAD has shown a minor recovery of 168 pips from the low of 0.9579. The pair breaks trend line resistance at 0.97285 (trend line joining 0.99168 and 0.97865). It is currently trading at 0.97300.
- The pair should break above 0.9745 (233- 4H MA) and any break above will take the pair till 0.97850/0.98450.
- On the lower side, near term support is around 0.9705 (23.6% retracement 0.95790 and 0.97422) and any violation below will drag the pair till 0.96660 (Dec 11th 2017 low)/0.96340 (Dec 8th 2017 low)/0.95790. Short bearish invalidation only below 0.95780.
It is good to buy on dips around 0.9705-9710 with SL around 0.9660 for the TP of 0.9785/0.9845
