AUDCAD approaching resistance, potential drop!
AUDCAD is approaching our first resistance at 0.9472 (horizontal overlap resistance, 100% Fibonacci extension, 38.2% Fibonacci retracement, short term descending resistance line) where a strong drop might occur below this level pushing price down to our major support at 0.9329 (horizontal swing low support, 100% Fibonacci extension).
Stochastic (21,5,3) is also approaching our resistance where a reaction below 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 (21,5,3) is also approaching our resistance where a reaction below 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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