AUD/CAD rejected at 110-EMA and capped below daily cloud.
Recovery attempts in the pair have been capped below 21-EMA.
Scope for test of 61.8% Fib at 0.9360 on continued bearish momentum.
Retrace above 21-EMA could see minor upside. Bearish invalidation only above 110-EMA.
Support levels - 0.9378 (Feb 7 low), 0.9360 (61.8% Fib), 0.9335 (trendline)
Resistance levels - 0.9436 (21-EMA), 0.9491 (110-EMA), 0.95
Good to go short on upticks, SL: 0.9440, TP: 0.9375/ 0.9360/ 0.9340
Recovery attempts in the pair have been capped below 21-EMA.
Scope for test of 61.8% Fib at 0.9360 on continued bearish momentum.
Retrace above 21-EMA could see minor upside. Bearish invalidation only above 110-EMA.
Support levels - 0.9378 (Feb 7 low), 0.9360 (61.8% Fib), 0.9335 (trendline)
Resistance levels - 0.9436 (21-EMA), 0.9491 (110-EMA), 0.95
Good to go short on upticks, SL: 0.9440, TP: 0.9375/ 0.9360/ 0.9340