$AUDCAD Indicating The Positive Side Movement

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SUMMARY :  

The overall trend of AUD/CAD is sideways, but from the last few days prices are not sustaining at lower levels & taking resistance of falling trend line & consolidating with a positive bias. In its hourly chart the pair is forming a falling channel which indicates the prices to show upside movement. 30 DMA  is also acting as a support for the prices & can come up to test 200 DMA, indicating the strength for the northward journey. If AUD/CAD crosses the level of 0.9720 it can come up to the levels of 0.9780/0.9820 in today’s trading session.

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AUD/CAD ( Hourly )

CHARTS

INDICATORS:

RSI is sustaining in buying territory & indicating the positive side movement for the day.
In MACD, MACD line has crossed the zero line & supporting the upside movement for next few sessions. 

STRATEGY: 

AUD/CAD  has bounced back from the lower level & looking bullish on charts for next few session. One can go for buy on dips strategy for this pair for intra day to mid term positions.


PIVOT POINTS :

	S3	S2	S1	PIVOT	R1	R2	R3
EUR/USD	1.0255	1.0382	1.0464	1.0591	1.0673	1.0800	1.0882
GBP/USD	1.4640	1.4766	1.4848	1.4974	1.5056	1.5182	1.5264
USD/JPY	120.21	120.53	120.99	121.31	121.77	122.09	122.55
USD/CHF	0.9858	0.9912	1.0002	1.0056	1.0146	1.0200	1.0290
AUD/USD	0.7466	0.7512	0.7554	0.7600	0.7642	0.7688	0.7730
EUR/GBP	0.6915	0.6963	0.7014	0.7062	0.7113	0.7161	0.7212
USD/CAD	1.2540	1.2601	1.2676	1.2737	1.2812	1.2873	1.2948
NZD/USD	0.7086	0.7134	0.7214	0.7262	0.7342	0.7390	0.7470

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