AUDCAD approaching resistance, potential drop!
AUDCAD is approaching our first resistance at 0.9534 (100% fibonacci extension, 50% fibonacci retracement, horizontal overlap resistance) and a strong drop might occur below this level pushing price down to our major support at 0.9443 (38.2% fibonacci retracement, horizontal swing low resistance).
RSI (55) 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
RSI (55) 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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