AUD/CAD Technical Analysis: 0.9475 becomes immediate barrier to the upside

The AUD/CAD pair trades around 0.9460 at the start Asian trading on Monday.
The pair has been struggling to clear the 100-day simple moving average (SMA), currently at 0.9475, since Thursday.
Should the pair manage to conquer the 0.9475 upside barrier, it can surpass 0.9500 round-figure to head towards 0.9515 resistance.
However, 50-day SMA and a descending trend-line connecting highs since December 05 can confine the pair’s further advances at 0.9525.
If at all prices rally beyond 0.9525, they confirm a short-term “falling wedge” bullish formation and can escalate the upmoves to 0.9525 and 0.9630 numbers to north.
Meanwhile, 61.8% Fibonacci retracement of its December to January downturn, at 0.9430, could become nearby support for the pair.
Given the quote slips under 0.9430, 0.9400 and a downward sloping trend-line, at 0.9370, seem crucial levels to watch for sellers.
Also, pair’s daily closing under 0.9370 might not hesitate flashing the 50% Fibo level 0.9325 and 0.9300 supports back on the chart.

Anil Panchal FXStreet

AUD/CAD daily chart

Additional important levels:

Overview:
    Today Last Price: 0.9462
    Today Daily change: 1 pips
    Today Daily change %: 0.01%
    Today Daily Open: 0.9461
Trends:
    Daily SMA20: 0.947
    Daily SMA50: 0.9537
    Daily SMA100: 0.9485
    Daily SMA200: 0.9561
Levels:
    Previous Daily High: 0.9473
    Previous Daily Low: 0.9423
    Previous Weekly High: 0.9473
    Previous Weekly Low: 0.9382
    Previous Monthly High: 0.9646
    Previous Monthly Low: 0.9161
    Daily Fibonacci 38.2%: 0.9454
    Daily Fibonacci 61.8%: 0.9442
    Daily Pivot Point S1: 0.9432
    Daily Pivot Point S2: 0.9402
    Daily Pivot Point S3: 0.9382
    Daily Pivot Point R1: 0.9482
    Daily Pivot Point R2: 0.9502
    Daily Pivot Point R3: 0.9532

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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