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AUDCAD approaching a strong level of support, keep an eye out!

Long
Australian Dollar/Canadian Dollar (FX:AUDCAD)  
Tickmill Broker  
FX:AUDCAD   Australian Dollar/Canadian Dollar
Trend Analysis Harmonic Patterns Chart Patterns AUDCAD aud CAD audcadlong audcadshort Forex forexsignals forextrading forexlong
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trendanalysis harmonicpatterns chartpattern audcad aud cad audcadlong audcadshort forex forexsignals forextrading forexlong
Price is approaching a major level of support at 0.9782 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) and a strong bounce could occur at this level to drive price up. Our next major level of resistance is at 0.9876 (Fibonacci extension, horizontal swing high resistance) and our next major level of support is at 0.9742 (Fibonacci retracement, breakout level).

Stochastic (34,5,3) is seeing strong support above 1.7% where a corresponding bounce could occur.

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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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