In a piece i wrote yesterday i suggested getting long on the break above 0.8800 for a potential move to 0.9130 and it is now worth adding a stop to this position below 0.8740. As the daily chart shows, we are now well and truely back above the 200 DMA and the last time the AUD/CAD broke back above its 200 DMA was back in Jan 08 where we proceeded to rally 10 big figures from the 200 DMA level. Based on that, 0.9500 here we come, but for now i am still sticking to my target 0.9100/30 region.
Major support levels to pay attention to are 0.8650/80 and 0.8500/30.
