FxWirePro: AUD/CAD Finds Stiff Resistance in 0.9495-0.95 Area, Break Above Required for Further Upside

FxWirePro: AUD/CAD Finds Stiff Resistance in 0.9495-0.95 Area, Break Above Required for Further Upside

3 June 2016, 07:44
Roberto Jacobs
0
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FxWirePro: AUD/CAD Finds Stiff Resistance in 0.9495-0.95 Area, Break Above Required for Further Upside

  •     Aussie moving in tandem with the minor rebound seen in commodity prices. 
  •     Momentum studies are neutral, AUD/CAD trades a narrow range, holds above 21-DMA (currently at 0.9487). 
  •     Pair finds stiff resistance in the 0.9495-0.95 area, break above needed for further upside. 
  •     Immediate support is seen at 0.9453 (5-DMA) and then 0.9440 (21-DMA). Break below 0.9440 could then see test of 0.9360 levels. 
  •     Resistance on the upside seen at 0.9496 (23.6% Fib) and then 0.9527 (June 1st highs). 


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