I have been posting some analysis on this pair for the past week and here is the update.
After a pretty decent drop, AUDCAD will try to retouch the rising wedge it just broke out of. This retouch, which is also the previous daily level, should provide enough resistance for the pair to come back down and continue its way towards the next daily level, which is around 1.0125.
Entry: 1.0230
Target: 1.0130
Stop Loss: 1.0255
Ratio 4:1
Duration: 1 week
After a pretty decent drop, AUDCAD will try to retouch the rising wedge it just broke out of. This retouch, which is also the previous daily level, should provide enough resistance for the pair to come back down and continue its way towards the next daily level, which is around 1.0125.
Entry: 1.0230
Target: 1.0130
Stop Loss: 1.0255
Ratio 4:1
Duration: 1 week
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