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.

AUD/CAD daily chart