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AUDCAD approaching resistance, potential drop!

Short
Dollaro australiano/Dollaro canadese (FX:AUDCAD)  
easyMarkets Broker  
FX:AUDCAD   Dollaro australiano/Dollaro canadese
Trend Analysis Harmonic Patterns Chart Patterns AUDCAD aud CAD audcadlong audcadshort Forex forextrading forexsignals
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trendanalysis harmonicpatterns chartpattern audcad aud cad audcadlong audcadshort forex forextrading forexsignals
AUDCAD is approaching our first resistance at 0.9224 (horizontal pullback resistance, 23.6% Fibonacci retracement, 100% fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 0.91667 (horizontal swing low support, 76.4% Fibonacci retracement, 100% Fibonacci extension). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
RSI (34) is also seeing a bearish exit and we might see a corresponding drop in price should it react off this level.
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