AUD/CAD is approaching our first support at 0.9388 (horizontal swing low support, 100% Fibonacci extension, 61.8% Fibonacci retracement) where a strong bounce might occur above this level, pushing the price up to our major resistance at 0.9441 (horizontal overlap resistance, 61.8% Fibonacci retracement). Stochastic (34,5,3) is also approaching support where we might see a corresponding bounce in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment, so please ensure you fully understand the risks.
The material has been provided by InstaForex Company – www.instaforex.com
AUD/CAD is approaching our first support at 0.9388 (horizontal swing low support, 100% Fibonacci extension, 61.8% Fibonacci retracement) where a strong bounce might occur above this level, pushing the price up to our major resistance at 0.9441 (horizontal overlap resistance, 61.8% Fibonacci retracement). Stochastic (34,5,3) is also approaching support where we might see a corresponding bounce in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment, so please ensure you fully understand the risks.
The material has been provided by InstaForex Company – www.instaforex.com
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