FX:AUDCAD   Australian Dollar/Canadian Dollar
this could be a good long swinging opportunity as we see a touch of strong support - rejection has been spotted on smaller tf and hopefully a good entry can be made and held until a potential touch of the resistance indicated. although not showing figures of being oversold, RSI is also pretty low and below 50 meaning a reversal could take place. Let me know what you think!!
comments and/or suggestions highly appreciated :)

Comments

In a long term range, a breakout of either level will see a massive move so just be careful it doesnt break your support. Also with Australia in lockdowns and taking a harsher stand on the "virus" this might take a bigger hit on the economy causing AUD to weaken.
+2 Reply
Bp_Tradezz deeprelaxationuk3
@deeprelaxationuk3 ah yes you’re definitely right ill be sure to keep a close eye. Also thanks i havent been keeping up with my fundamentals - i appreciate the heads up! 👍🏽
+1 Reply
@Bp_Tradezz, Always here to help mate.
+2 Reply
I would keep an eye out for the 0.90000 area. Between 28/07/2019 and 19/01/2020, price was riding that area pretty well. Then on the 08/03/2020, price came to retest the 0.90000 area one more time before selling off.
+1 Reply
Bp_Tradezz Charles-OW
@Charles-OW, ah thanks for pointing that out! will definitely lookout for that area now :)
Reply