KeytoMarkets

AUDCAD: 61.8 fib reaction in focus

FX:AUDCAD   Australian Dollar/Canadian Dollar
The cross has erased the ascending trendline and retraced 50.0% of the recent rally (0.9578-1.000). The daily RSI and oscillator remain bearish . On Thursday session the cross down 0.25% having a session low at 0.9800. Today in early Asia session the price action manages to hold the parallel support finds at 0.9785 (Nov 30 high).
Intraday pivotal finds at 0.9780 below this the 1st support find at 0.9740 it’s 61.8 fib reaction/0.9730 a parallel support and 2nd support at 0.9700 previous swings low.
Additional support finds at 0.9670 it’s 80.0 fib reaction coincides with the Sep 06 low.
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