AUD/CAD may rise 30 - 42 pips

Our pivot point stands at 0.8965.

Our preference

As long as 0.8965 is support look for 0.9037.

Alternative scenario

The downside breakout of 0.8965 would call for 0.8944 and 0.8931.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (0.8998) but above its 50 period moving average (0.8976).

Supports and resistances

0.9063 **

0.9050 *

0.9037 **

0.9025

0.8995 last

0.8973

0.8965 **

0.8944 *

0.8931 **

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