AUD/CAD may rise to 0.9240 - 0.9316

Our pivot point stands at 0.8958.

Our preference

As long as 0.8958 is support look for 0.9316.

Alternative scenario

The downside breakout of 0.8958 would call for 0.8829 and 0.8753.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.9051 and 0.8950).

Supports and resistances

0.9470 **

0.9393 *

0.9316 **

0.9240

0.9073 last

0.9008

0.8958 **

0.8829 *

0.8753 **

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