AUDCAD Broke through a very major support zone this week and has already found its way up to retest this area.
What happens with a breakout and a retest? It always follows the stronger direction, in this case it's going down...
This area also marks up with the 0.50 fib level of the previous impulse move down, the sharp bounce down off this region also indicates we could see a move down to the -0.27 extension level.
What happens with a breakout and a retest? It always follows the stronger direction, in this case it's going down...
This area also marks up with the 0.50 fib level of the previous impulse move down, the sharp bounce down off this region also indicates we could see a move down to the -0.27 extension level.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.