theforexportal

AUDCAD may be about to reverse

Short
FX:AUDCAD   Australian Dollar/Canadian Dollar
The AUD has performed well over the last week but with price now reaching overbought and AUDCAD approaching double resistance, we may see a decline from these levels.
Being a holiday, volumes will be down but this can lead to volatility .
We are taking a small position and SHORTING this pair from 1.0094 with a STOP at 1.0140 above all the resistance.