AUD/CAD may rise 35 - 50 pips

0.9108 is our pivot point.

Our preference

As long as 0.9108 is support look for 0.9187.

Alternative scenario

The downside breakout of 0.9108 would call for 0.9082 and 0.9067.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.9136 and 0.9132).

Supports and resistances

0.9218 **

0.9202 *

0.9187 **

0.9172

0.9137 last

0.9118

0.9108 **

0.9082 *

0.9067 **

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