AUD/CAD – 1H – BUYThe pair jumps from the descending trendline down.
A continuation of the downward movement downwards to the next support level at 0.91589 is likely expected.
Caution: A possible trend reversal in the direction of the resistance line at 0.92923 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend is likely expected. Current target is 0.92730272 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the resistance line at 0.92923 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93191 |
| 2nd High | 0.93041 |
| Next High | 0.92923 |
| Current Price | 0.92388 |
| Next Low | 0.91589 |
| 2nd Low | 0.91542 |
| 3rd Low | 0.91044 |