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).