AUD/CAD – 30M – SELLThe 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