AUD CAD SHORT

AUD/CAD rose to just under the 13th of September highs last week before finding resistance and showing signs of stalling. Although we have a longer-term bull bias in this pair, we believe this week could show continued weakness down to our target of around 0.90000. Price on the daily has broken and closed above the 50EMA without retest. There is now evidence of an extension from the moving averages at the same time so a daily retest of the 50EMA seems probable.