theforexportal

AUDCAD is caught in a flag formation - SHORT trade favoured

Short
FX:AUDCAD   Australian Dollar/Canadian Dollar
AUDCAD is caught in a flag formation and will probably zig-zag sideways for a while before it breaks free. There's considerable resistance above so I'm only looking for a SHORT trade where a move down to .890 200 sma on D1 and WS1 support looks likely. One to watch.