AUD/CAD has ended its consolidation phase and has resumed uptrend.
The pair has bounced off 38.2% Fib at 0.9723, broken stiff resistance at 0.9979 and is extending upside.
For a medium-term outlook, trend is bullish. We see scope for test of 1.0350 levels.
Weakness only below 23.6% Fib at 0.9817. Violation there could see drag till 0.9650 and then 0.9490 levels.
Medium-term: Buy on dips, SL: 0.9817, TP: 1.0170/ 1.0235/ 1.0350
The pair has bounced off 38.2% Fib at 0.9723, broken stiff resistance at 0.9979 and is extending upside.
For a medium-term outlook, trend is bullish. We see scope for test of 1.0350 levels.
Weakness only below 23.6% Fib at 0.9817. Violation there could see drag till 0.9650 and then 0.9490 levels.
Medium-term: Buy on dips, SL: 0.9817, TP: 1.0170/ 1.0235/ 1.0350
