AUD/CAD – 1H – SELLThe pair goes from the descending trendline down.
A continuation of the downward movement downwards to the next support line at 0.91044 is expected.
Caution: A possible counter-trend in the direction of the resistance level at 0.91832 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
The chart formed a ‘Three White Soldiers’ candlestick pattern, which means 3 higher candles in a row.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.92510 |
| 2nd High | 0.92072 |
| Next High | 0.91832 |
| Current Price | 0.91419 |
| Next Low | 0.91044 |
| 2nd Low | 0.90955 |
| 3rd Low | 0.90384 |