AUDCAD testing resistance, potential drop!
AUDCAD is testing our first resistance at 0.9717 (horizontal overlap resistance, 23.6% Fibonacci retracement) and a strong reaction might occur below this level pushing price down to our major support at 0.9644 (horizontal pullback support, 50% Fibonacci retracement).
Stochastic is also seeing a bearish divergence and is approaching resistance where a reaction off this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic is also seeing a bearish divergence and is approaching resistance where a reaction off this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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