AUD/CAD (+106)

as the oil started marking gains on the market, so did the CAD against most of the currencies. With the downtrend in place it is reasonable to expect the continuation with the wind in CAD back. This play of the simple moving averages tells the story of continuation of the downside for the pair. Previous crossovers of these two mov. aver. resulted in huge moves. Recent move up was stopped at 50 SMA (orange line), and crossover of 100 & 200 moving averages marks the signal for the move lower. Stops should be above 100 SMA and February 26 high 0.9475 , with the MUST close above it to break the downtrend, and profit targets should start at 92.00 and below. Close bellow 92.00 on a weekly chart would open the doors for the move lower.