AUD/CAD breaks double top at 0.9990, targets 1.0110
AUD/CAD has broken strong trendline resistance at 0.9912 in Tuesday's trade and has closed above.
The pair has also broken above next strong resistance at 0.9990 levels (double top 17th Dec and 28th Jan).
Momentum studies are bullish, close above 0.9990 could take the pair to 1.0085 and then 1.0110.
Supports on the downside are located at 0.9960 (Jan 20th lows), 0.9954 (Jan 18th lows) and then 0.9950 (Jan 13th lows).
Breaks below 0.9910 will invalidate bullish bias.
The pair has also broken above next strong resistance at 0.9990 levels (double top 17th Dec and 28th Jan).
Momentum studies are bullish, close above 0.9990 could take the pair to 1.0085 and then 1.0110.
Supports on the downside are located at 0.9960 (Jan 20th lows), 0.9954 (Jan 18th lows) and then 0.9950 (Jan 13th lows).
Breaks below 0.9910 will invalidate bullish bias.