AUDCAD has displayed bullish price action and has seen the pair pull back to approach trend line and horizontal resistance. On the 4HR time frame RSI suggests the market is overbought and a bearish Stochastic cross suggests a continuation in the trend to the downside. We are awaiting to see price action confirmation around this resistance zone before looking for short entries.
Note
We have taken profit after our expected move lower
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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.