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.

©genuinelyFX_2015.03.17_audcad_h4
AUDCAD, H4 chart

 

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

©genuinelyFX_2015.03.17_audcad_weekly
AUDCAD, weekly chart

 

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

 

 

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