Technical analysis of AUD/CAD for September 21, 2016
September 21, 2016 10:36 am
AUDCAD has been steadily rising after finding the bottom near 0.9800. Pair broke above the ascending channel, corrected down and today rejected the 50 Moving Average suggesting a continuation of an uptrend.
Consider buying AUDCAD on small corrective waves down towards 50% Fibs (0.9975), targeting either 23.6% (1.0060) or 0% (1.0140) Fibs applied to the channel breakout point. The stop loss should be just below the 61.8% Fibs (0.9935)
Support: 0.9935
Resistance: 1.0015, 1.0060, 1.0140
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
AUDCAD has been steadily rising after finding the bottom
near 0.9800. Pair broke above the ascending channel, corrected down and today
rejected the 50 Moving Average suggesting a continuation of an uptrend.
Consider buying AUDCAD on small corrective waves down
towards 50% Fibs (0.9975), targeting either 23.6% (1.0060) or 0% (1.0140) Fibs
applied to the channel breakout point. The stop loss should be just below the
61.8% Fibs (0.9935)
Support: 0.9935
Resistance: 1.0015, 1.0060, 1.0140
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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