The currency pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the bullish trendline downwards
A bearish trend down to the next support line at 0.88833 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.89308 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Double top chart pattern’ chart pattern is found. The chart shows ‘Double top chart pattern’. this is a bearish chart scenario. The currency pair is likely to go down.
Moreover a ‘Support Level’ indicator layout is existing. The indicator shows ‘Support Level’. this is usually a bearish signal. The pair is likely to go down.
Support & Resistance | Price Range* |
---|---|
3rd High | 0.89829 |
2nd High | 0.89718 |
Next High | 0.89308 |
Current Price | 0.88985 |
Next Low | 0.88833 |
2nd Low | 0.88790 |
3rd Low | 0.88001 |
0.89308 – 0.89301 – 0.89718 – 0.88833 – 0.88790 – 0.89032