AUD/CAD may rise 24 - 37 pips

Our pivot point stands at 0.9071.

Our preference

Our next up target stands at 0.9137.

Alternative scenario

Below 0.9071, expect 0.9050 and 0.9038.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.9091 and 0.9099). Finally, the AUD/CAD is trading above its upper Bollinger band (standing at 0.9099).

Supports and resistances

0.9161 **

0.9149 *

0.9137 **

0.9124

0.9100 last

0.9079

0.9071 **

0.9050 *

0.9038 **

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