AUDCAD has finally surpassed its descending resistance-turned-support line triggering a potential bullish move from here. Our main area of support remains at 0.9782 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) and a strong bounce could push price up possibly to 0.9876 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (55,5,3) has surpassed our descending resistance-turned-support line triggering a potential bullish exit from here.
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Hey there, If you look at the AUDUSD pair it's been going up non stop for so long and could reverse soon, since this pair is strongly correlated with it it could fall, plus it's negatively correlated with EURUSD which also recently broke a trend line going long, so it just might fall soon, and we'll have to see what the news will do. good lock