AUD/CAD Sell Setup, Divergence and Fib Resistance
AUDCAD has been in an overall downtrend so far and seems to face resistance at the 61.8% Fib level.
In addition to the Fib and horizontal resistance, the price has also formed a bearish divergence on the MACD.
Today's strong bearish candle and rising oil prices (positive for CAD) supports our view.
In addition to the Fib and horizontal resistance, the price has also formed a bearish divergence on the MACD.
Today's strong bearish candle and rising oil prices (positive for CAD) supports our view.
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.