The Australian Dollar continued to appreciate against the Canadian Dollar. The AUD/CAD currency pair has already exceeded 0.9200.
It is likely that the exchange rate could gain support from the 55-, 100– and 200-hour moving averages near 0.9160. Thus, some upside potential could continue to prevail in the market.
Note that the currency pair would have to surpass the Fibos 50.00% and 61.80% in the 0.9289/0.9515 range. If the given resistance holds, it is likely that a reversal south could occur, and the pair could decline to the Fibo 23.60% at 0.8785.