AUD/CAD – 1H – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) goes from the ascending trendline down.
The bearish trend down to the next support line at 0.88203 is expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.89273 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Resistance Level’ indicator signal is existing. The indicator is ‘Resistance Level’. which could be a negative chart signal. The currency pair is likely to fall.
Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Current target is 0.886215 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support level at 0.89273 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89469 |
| 2nd High | 0.89371 |
| Next High | 0.89273 |
| Current Price | 0.88700 |
| Next Low | 0.88203 |
| 2nd Low | 0.87970 |
| 3rd Low | 0.87890 |
0.89273 – 0.88819 – 0.88734 – 0.88203 – 0.88297 – 0.87970