AUD/CAD may fall 40 - 55 pips

Our pivot point stands at 0.9192.

Our preference

The downside prevails as long as 0.9192 is resistance.

Alternative scenario

The upside breakout of 0.9192, would call for 0.9217 and 0.9232.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.9183 and 0.9180). Finally, the AUD/CAD has penetrated its lower Bollinger band (0.9172).

Supports and resistances

0.9232 **

0.9217 *

0.9192 **

0.9183

0.9171 last

0.9131

0.9116 **

0.9101 *

0.9086 **

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