AUD/CAD Technical Analysis: Australian dollar vs the Canadian bounces at its 500 EMA and 0.98144 support

Denis Joeli Fatiaki Independent Analyst

The Australian dollar vs the Canadian failed at 0.98468 and fell through to 0.982107 support during the Europen trading session reducing the prospects of getting back early into the bullish channel. The Aussie dollar now trades just above its 500 EMA at 0.98260 after bouncing at previously estimated support at 0.98144. The Aussie dollar will need to maintain activities above 0.982107 to prevent prices from falling further. Projected support and resistance are located at the following price level. Support - 0.98144, 0.98049, 0.97896, 0.97795. Resistance - 0.983433, 0.98468, 0.98696

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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