AUD/CAD may rise 26 - 38 pips

Our pivot point is at 0.8958.

Our preference

Rebound towards 0.9027.

Alternative scenario

The downside breakout of 0.8958 would call for 0.8938 and 0.8926.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.9005 and 0.9035).

Supports and resistances

0.9051 **

0.9039 *

0.9027 **

0.9015

0.8989 last

0.8966

0.8958 **

0.8938 *

0.8926 **

Number of asterisks represents the strength of support and resistance levels.