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Horizontal Support Could Confine AUDCAD Downside

Discussion in 'Technical Analysis' started by Kaitlin, Feb 26, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    Having reversed from two month old descending trend-channel resistance during early week, the AUDCAD seems currently aiming to test the 0.9750-40 horizontal support, also including the 100-day SMA, which may give rise to the pair's pullback to 0.9850 immediate resistance. Given the pair stretches its profit booking moves beyond 0.9850,[​IMG]

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