AUDCAD approaching resistance, potential drop!
AUDCAD is approaching our first resistance at 0.9518 (Horizontal swing high resistance, 38.2%, 50% Fibonacci retracement, 100% fibonacci extension, descending channel resistance) and a strong drop might occur pushing price down to our major support at 0.9346 (horizontal pullback support, 50% fibonacci retracement).
Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
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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