Another move lower for AUDCAD

posted by genuinelyFX at 03/17/2015 - 15:47 GMT

Beautiful h&s forming on a four hour chart for the australian dollar against the canadian dollar. Breaking the neck could send the pair into the 0.9600 area, continuing the downtrend.

AUDCAD, H4 chart


On a weekly chart, we see the price ready to collapse lower into 0.9400 area. Also a great fibonacci support.

AUDCAD, weekly chart


We maintain a short bias for the AUDCAD pair, looking for a touch of 0.9600 area soon.