AUD/CAD holds 200-DMA support at 0.9897, intrday bias bearish.
The pair is down 0.17% on the day, we see weakness to extend on break below 200-DMA.
Technical studies are bearish. RSI is biased lower. Stochs have rolled over from overbought levels.
MACD is showing a bearish crossover on signal line which adds to the bearish bias.
The pair is trading in a rising channel and we see scope for test of channel base at 0.9840.
Violation there could see next major support at 100-DMA and then 61.8% Fib at 0.9743.
Go short on break below 200-DMA, SL: 0.9955, TP: 0.9845/ 0.98/ 0.9745
Support levels: Resistance levels:
S1: 0.9840 (channel base) R1: 0.9951 (5-DMA)
S2: 0.9794 (50% Fibo) R2: 1.00 (psychological level)
The pair is down 0.17% on the day, we see weakness to extend on break below 200-DMA.
Technical studies are bearish. RSI is biased lower. Stochs have rolled over from overbought levels.
MACD is showing a bearish crossover on signal line which adds to the bearish bias.
The pair is trading in a rising channel and we see scope for test of channel base at 0.9840.
Violation there could see next major support at 100-DMA and then 61.8% Fib at 0.9743.
Go short on break below 200-DMA, SL: 0.9955, TP: 0.9845/ 0.98/ 0.9745
Support levels: Resistance levels:
S1: 0.9840 (channel base) R1: 0.9951 (5-DMA)
S2: 0.9794 (50% Fibo) R2: 1.00 (psychological level)
