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AUDCAD below major resistance, potential for a strong drop!
AUDCAD is seeing major resistance below 0.9702 (Fibonacci retracement, horizontal overlap resistance, descending resistance) and a strong reaction could occur at that level to push prices all the way down to major support at 0.9627 (Fibonacci retracement, Fibonacci extension, horizontal overlap support).
Stochastic (55,5,3) is seeing major resistance at 93% where a corresponding reaction could occur.
Stochastic (55,5,3) is seeing major resistance at 93% where a corresponding reaction could occur.
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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