AUD/CAD may fall 33 - 49 pips

Our pivot point stands at 0.9130.

Our preference

The downside prevails as long as 0.9130 is resistance.

Alternative scenario

Above 0.9130, look for 0.9157 and 0.9173.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.9112 and 0.9119). Finally, the AUD/CAD has penetrated its lower Bollinger band (0.9098).

Supports and resistances

0.9173 **

0.9157 *

0.9130 **

0.9119

0.9098 last

0.9065

0.9049 **

0.9033 *

0.9017 **

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