AUDCAD Testing Resistance, Potential Reversal
AUDCAD is testing its resistance at 0.9519 (61.8% Fibonacci extension, 38.2% & 50% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 0.9371 (38.2% Fibonacci retracement, horizontal pullback support). Stochastic (89, 5, 3) is testing its resistance at 96% and there may be bearish divergence with price, where a corresponding reversal could occur.
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.