AUD/CAD may rise to 0.9280 - 0.9358

Our pivot point stands at 0.8984.

Our preference

As long as 0.8984 is support look for 0.9358.

Alternative scenario

The downside breakout of 0.8984 would call for 0.8854 and 0.8776.

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 trading above both its 20 and 50 period moving average (respectively at 0.9068 and 0.8971).

Supports and resistances

0.9513 **

0.9436 *

0.9358 **

0.9280

0.9103 last

0.9035

0.8984 **

0.8854 *

0.8776 **

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