AUDCAD, Time frame: dailyAUDCAD, Time frame: daily

AUD/CAD continues to trade within a broad consolidation phase after repeated rejection from the 0.9900-0.9950 resistance zone. Price action has failed to break through the upper range on several attempts, as highlighted by the recent rejection candles near the highs. Despite this, the broader structure remains supported as the pair continues to hold above the main macro support area.

Support and the 100-day SMA

The price is currently trading around the 0.9820 area, remaining above the 100-day moving average. This keeps the medium-term structure constructive, although recent selling pressure shows that buyers have lost some short-term momentum. As long as AUD/CAD remains above the 0.9750 region, the broader range support remains intact.

Resistance levels

The first key resistance level sits around 0.9850, followed by the stronger supply zone near 0.9900-0.9950. Should AUD/CAD reclaim 0.9850 and establish sustained acceptance above it, buyers could attempt another move toward the upper range. A clean breakout above 0.9950 would strengthen the bullish structure and open the door toward the 1.0000 psychological level.

Macro Support Continues to Protect the Uptrend

On the downside, the 0.9720-0.9755 area remains the critical support zone for buyers, combining the macro support shelf with the rising 100-day moving average. This area has repeatedly attracted demand during previous pullbacks. A sustained break below 0.9720 would weaken the setup and expose the 0.9650-0.9670 region as the next downside target.

Momentum

The Relative Strength Index (RSI) is currently hovering around 45, showing that bullish momentum remains limited after the latest rejection from resistance. The RSI remains below the neutral 50 level, indicating buyers have not yet regained stronger control. A move back above 50-55 would be needed to support a cleaner recovery.

Technical Outlook

The short-term bias remains cautiously constructive while AUD/CAD trades above macro support. Nevertheless, the 0.9750 region remains the key technical level for buyers, with a sustained break below this area likely to shift momentum lower, while a reclaim above 0.9850 could revive upside attempts in the sessions ahead.