Pabie
Short

A 'SHORT' on AUDCAD

FX:AUDCAD   Australian Dollar/Canadian Dollar
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Information has been included on the chart.
Nice idea on AUDCAD and there may be bearish bias as you have you have identified. For our set up, we have identified the key resistance and support levels for the short term. The first resistance that we have identified is at 0.9727 (61.8% Fibonacci extension , 76.4% Fibonacci retracement , horizontal swing high resistance). Stochastic is approaching its resistance at 97% where a reversal could occur. If a reversal does occur, we may look at the 0.9601 support level (61.8% Fibonacci extension, 78.6% Fibonacci retracement), which is below the support zone that you have identified.

Please have a look at our idea and share with us what you think.


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