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AUDCAD approaching resistance, potential drop!

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Australiensisk dollar/Kanadensisk dollar (FX:AUDCAD)  
Tickmill Mäklare  
FX:AUDCAD   Australiensisk dollar/Kanadensisk dollar
Trend Analysis Harmonic Patterns Chart Patterns AUDCAD aud CAD audcadlong audcadshort Forex forextrading forexsignals
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trendanalysis harmonicpatterns chartpattern audcad aud cad audcadlong audcadshort forex forextrading forexsignals
AUDCAD is approaching our firsts resistance at 0.9471 (horizontal overlap resistance, 38.2% Fibonacci retracement, 100% Fibonacci extension, Elliot wave structure) where a strong drop might occur below this level pushing price down to our major support at 0.9332 (100% Fibonacci extension, Elliot wave structure). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
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Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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