AUD/CAD – Currency exchange rate forecast 05.06.2019: the downside prevails as long as 0.9388 is resistance

AUD/CAD - Currency exchange rate forecast 05.06.2019: the downside prevails as long as 0.9388 is resistance

Alternative scenario: the upside breakout of 0.9388 would call for 0.9419 and 0.9437.

Our pivot point is at 0.9388.

Our preference: the downside prevails as long as 0.9388 is resistance.

Alternative scenario: the upside breakout of 0.9388, would call for 0.9419 and 0.9437.

Comment: the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 0.9364 and 0.9371).

Supports and resistances:

0.9437 **

0.9419 *

0.9388 **

0.9376

0.9361 last

0.9323

0.9304 **

0.9286 *

0.9268 **