AUDCAD LONG

٢٨ يونيو ٢٠٢٠

AUDCAD had been forming a bullish rectangle. over the past few weeks. this is a continuation pattern as price has failed repeatedly to break below the 0.9300 level using this area as support. if current price action continues to find short term support at the 50ma level then a break out above the resistance area should provide opportunity to test the 0.966 level. If price breaks below the 4hr 50ma in the short term then price will ikely continue in the rectangle. trading withing the 0.94 and 0.93 range. a break and close above 0.9450 level should be seen as trigger to go long for a test of the 0.9660 level of resistance.