AUDCAD is approaching its resistance at 0.92279 where it is could reverse down to its support at 0.91625.
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#AUDCAD has broken an ascending trend line and fallen, creating a new lower low. If price can reject my zone, I will be looking for long-term selloffs. The potential sell target price is 0.91000
If price breaks the zone to the upside, a re-evaluation will need to be done. But, until then, sells are looking like the best option.
If we learn from our graph history, then surely we will open a sell position! The reason for this is simple - every time the audcad touches the moving average 200 it falls and each time it also falls more than the previous time, while these lines are being written, we touch the moving average 200 So our recommendation is to sell.
AUDCAD. AUD has not fallen against CAD while it has fallen against other currencies.
It is currently weak. We can expect a short sell 100 more pips if the 0.97 level stays unbroken.
*Let the 4H candle close and if it closes with a tick at least half the size of its body then we're good for a sell.