AUD/CAD – 1H – SELLThe combination jumps from the descending trendline down.
A continuation of the downtrend down to the next support at 0.91680 will persist.
Caution: A possible counter-trend in the direction of the resistance line at 0.91996 should always be considered.
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 will persist. Target of the current trend is 0.9158 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of support at 0.91996 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.92510 |
| 2nd High | 0.92022 |
| Next High | 0.91996 |
| Current Price | 0.91744 |
| Next Low | 0.91680 |
| 2nd Low | 0.91580 |
| 3rd Low | 0.91542 |