AUDCAD Approaching Resistance, Potential Drop!
AUDCAD is approaching our first resistance at 0.9706 (horizontal overlap resistance, 50% Fibonacci retracement) and a strong reaction might occur below this level, pushing price down to our major support at 0.9631 (horizontal swing low support, 61.8% Fibonacci retracement, 61.8% Fibonacci extension).
Stochastic (89,5,3) is also approaching our resistance where a reaction below this level might see a corresponding drop in price.
Stochastic (89,5,3) is also approaching our resistance where a reaction below this level might see a corresponding drop in price.