During today’s early session the AUD/CAD pair was
trading around 0.9825 area. The key support located at 0.97174, where also the
200-day EMA is lying, remained below. The intraday low was marked at 0.9802 and
the high at 0.98771.
Bulls successfully conquered the 23.6% Fibonacci retracement line (from May’s
low to July’s high) of 0.98168 and now the pair is heading up to the resistance
located at 0.9903. The upward trend seems to be confirmed as 38.2% Fibonacci
retracement at 0.97242, acting as a strong support is now muted for the bulls
run. Next bulls target is the 0.9903 and the 0.9970, where the next major
resistance is placed.
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