MtxTrader

AUDCAD Possible Short at Support Trendline Break

Short
FX:AUDCAD   Australian Dollar/Canadian Dollar
Price is just hovering above the support trendline.

I am looking to short this pair, as soon as it breaks the support trendline.

I will be watching for the market gap to decide when to take the trade.

Remember that gaps are often filled.

However, with a strong AUD against the USD, this pair may break the horizontal resistance zones at 1.0072 and 1.0155
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.