AUD/CAD – 1H – SELLThe currency pair jumps from the descending trendline downwards
A continuation of the downward movement down to the next support at 0.92464 is likely expected.
Caution: A possible counter-trend in the direction of the resistance line at 0.93041 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Current target is 0.922915 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support level at 0.93041 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93762 |
| 2nd High | 0.93191 |
| Next High | 0.93041 |
| Current Price | 0.92580 |
| Next Low | 0.92464 |
| 2nd Low | 0.92449 |
| 3rd Low | 0.91823 |