AUD/CAD Technical Analysis: 0.9475/80 confluence is in spotlight ahead of Aussie retail sales, trade balance

The AUD/CAD pair trades near 0.9455 during the early Asian session on Thursday.
The quote again heads to 0.9475/80 resistance confluence including 50-day simple moving average and a downward sloping trend-line stretched since December 05.
However, Australian retail sales and trade balance data can drag the pair down if flashing weak signals.
On the downside, 0.9380 and 0.9315 likely nearly support for the pair traders to watch.
Should prices slide under 0.9315, 0.9270 and 0.9220 can please sellers.
Meanwhile, an upside clearance of 0.9480 may have to surpass 100-day SMA level of 0.9505 in order to justify its strength in targeting late-January high of 0.9580.
Additionally, the AUD/CAD pair’s successful trading above 0.9580 enables it to challenge 0.9630 and 0.9680 resistances.

Anil Panchal FXStreet

AUD/CAD daily chart

Additional important levels:

Overview:
    Today Last Price: 0.9452
    Today Daily change: 12 pips
    Today Daily change %: 0.13%
    Today Daily Open: 0.944
Trends:
    Daily SMA20: 0.9422
    Daily SMA50: 0.9481
    Daily SMA100: 0.9512
    Daily SMA200: 0.9543
Levels:
    Previous Daily High: 0.9474
    Previous Daily Low: 0.9388
    Previous Weekly High: 0.9477
    Previous Weekly Low: 0.9315
    Previous Monthly High: 0.9557
    Previous Monthly Low: 0.9319
    Daily Fibonacci 38.2%: 0.9421
    Daily Fibonacci 61.8%: 0.9441
    Daily Pivot Point S1: 0.9394
    Daily Pivot Point S2: 0.9348
    Daily Pivot Point S3: 0.9308
    Daily Pivot Point R1: 0.948
    Daily Pivot Point R2: 0.952
    Daily Pivot Point R3: 0.9566

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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