AUD/CAD is extending gains above 110-EMA and is on track to test 61.8% Fib.
The pair has broken out of daily cloud and major trendline resistance at 0.9515.
Technical analysis is bullish. RSI is above 50, bias higher. Stochs show bullish momentum.
Next immediate resistance lies at 55W EMA at 0.9574, breakout eyes 76.4% Fib at 0.9658.
On the flipside, retrace below 110-EMA will see weakness till trendline support at 0.9335.
Support levels - 0.9515 (cloud top), 0.9490 (110-EMA), 0.9470 (38.2% Fib)
Resistance levels - 0.9574 (55W EMA), 0.9586 (61.8% Fib), 0.96
Good to go long on dips around 0.9530, SL: 0.9490, TP: 0.9575/ 0.96/ 0.9630
The pair has broken out of daily cloud and major trendline resistance at 0.9515.
Technical analysis is bullish. RSI is above 50, bias higher. Stochs show bullish momentum.
Next immediate resistance lies at 55W EMA at 0.9574, breakout eyes 76.4% Fib at 0.9658.
On the flipside, retrace below 110-EMA will see weakness till trendline support at 0.9335.
Support levels - 0.9515 (cloud top), 0.9490 (110-EMA), 0.9470 (38.2% Fib)
Resistance levels - 0.9574 (55W EMA), 0.9586 (61.8% Fib), 0.96
Good to go long on dips around 0.9530, SL: 0.9490, TP: 0.9575/ 0.96/ 0.9630