Snehath
Short

AUDCAD - What is happening at the 2016 high?

FX:AUDCAD   Australian Dollar/Canadian Dollar
AUDCAD             is fast approaching the 2016 high of 1.0116. There is also another strong resistance at 1.0166 from December 2015. (This is the 2015 high)

It is good to see a bat pattern coming up at the same level. The trend is still up, so I am cautious about taking the trade now. I would like to see the high being challenged and a H4 candle being rejected before taking the trade

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