AUD/CAD – 1H – SELLThe pair moves from the descending trendline downwards
A continuation of the downtrend downwards to the next support line at 0.91542 is expected.
Caution: A possible counter-trend in the direction of the resistance zone at 0.92466 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Target of the current trend is 0.91542 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support level at 0.92466 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93191 |
| 2nd High | 0.92849 |
| Next High | 0.92466 |
| Current Price | 0.92024 |
| Next Low | 0.91542 |
| 2nd Low | 0.91044 |
| 3rd Low | 0.90955 |