• AUD/CAD upside halts at stiff trendline resistance by 0.9970, break above needed to resume upside.
   
• The pair has broken above 78.6% Fib of 1.0054 to 0.9324 fall, as it extends upside along the 'Cup' formation.
   
• Aussie under pressure from weak Australia consumer confidence and Chinese trade data. Somewhat upbeat Australia’s employment report left Aussie bulls largely unimpressed.
   
• Focus now remains on Q2 CPI data on 27th July which is crucial for the RBA and the market.
   
• The pair now finds support on the downside at 0.9817 (23.6% Fib of 0.9324 to 0.9970 rally). Break below will see next support at 0.9723 (38.2% Fib).
   
• We expect consolidation at current levels, before next leg higher. Weakness only below 0.9720 levels.