FXWIREPRO: AUD/CAD Supported Above Daily Cloud, Weakness Only on Breaks Below

FXWIREPRO: AUD/CAD Supported Above Daily Cloud, Weakness Only on Breaks Below

28 March 2016, 10:45
Roberto Jacobs
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FXWIREPRO: AUD/CAD Supported Above Daily Cloud, Weakness Only on Breaks Below

  • The Canadian dollar seems to be resuming its upside momentum, supported by a better tone in crude oil price. 
  • AUD/CAD rangebound but remains supported above daily cloud (currently spanning 0.9860-0.9940). 
  • Momentum studies have turned slightly bearish, breaks below daily cloud could see downside upto 0.9864 (Mar 18th lows). 
  • Strong trendline resistance lies at 1.0014 and any bullishness can be seen only on breaks above. 
  •  he pair has immediate support at 0.9933 (10-DMA) and breaks below will find next support at 0.9940 (cloud top). 


The material has been provided by InstaForex Company - www.instaforex.com

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