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AUDCAD testing resistance, potential drop!

Short
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 forextrading forexsignal
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trendanalysis harmonicpatterns chartpattern audcad aud cad audcadlong audcadshort forex forextrading forexsignal
AUDCAD is testing our first resistance at 0.9717 (horizontal overlap resistance, 23.6% Fibonacci retracement) and a strong reaction might occur below this level pushing price down to our major support at 0.9644 (horizontal pullback support, 50% Fibonacci retracement).
Stochastic is also seeing a bearish divergence and is approaching resistance where a reaction off this level might see a corresponding drop in price.
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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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