FX.co ★ Technical analysis of AUD/CAD for September 21, 2016

AUDCAD has been steadily rising after finding the bottom near 0.9800. Pair broke above the ascending channel, corrected down and today rejected the 50 Moving Average suggesting a continuation of an uptrend.

Consider buying AUDCAD on small corrective waves down towards 50% Fibs (0.9975), targeting either 23.6% (1.0060) or 0% (1.0140) Fibs applied to the channel breakout point. The stop loss should be just below the 61.8% Fibs (0.9935)

Support: 0.9935

Resistance: 1.0015, 1.0060, 1.0140