AUD/CAD – 1H – SELLThe combination jumps from the ascending trendline downwards
A descending movement down to the next support line at 0.91580 is expected.
Caution: A possible counter-trend in the direction of the resistance level at 0.92510 is within the realm of possibility.
Consider stop-loss settings accordingly.
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 0.9158 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support zone at 0.92510 is within the realm of possibility.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.92923 |
| 2nd High | 0.92791 |
| Next High | 0.92510 |
| Current Price | 0.91842 |
| Next Low | 0.91580 |
| 2nd Low | 0.91542 |
| 3rd Low | 0.91044 |