AUD/CAD: Resistance at 0.97600

Denis Joeli Fatiaki Independent Analyst

The pair has improved its technical position in the last two trading days which reflect on its price action with higher highs and higher lows in the 60 minutes time frame an indication of an uptrend but now faces a new challenge just a few ticks ahead to breakthrough 0.97600 resistance to continue to its next target at 0.97915. Another technical point to consider is its 500 EMA line just above 0.97600 resistance which might act as a resistance point in the future price movements.

Support - 0.97475, 0.97338, 0.97280

Resistance - 0.97600, 0.97713, 0.97915

Author

Denis Joeli Fatiaki

Independent Analyst

Denis Joeli Fatiaki possesses over a decade of extensive experience as a multi-asset trader and Market Strategist.

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