AUDCAD is approaching our first resistance at 0.9616 (horizontal swing high resistance, 78.6% Fibonacci retracement , 61.8%, 100% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 0.9533 (76.4% Fibonacci retracement, horizontal overlap support, 100% Fibonacci extension). Stochastic (34,5,3) is also approaching resistance and we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.