Hello Traders,
The market started today with some crazy moves on the GBP pairs.
Though I speculated the move on our weekly analysis which was published yesterday, I did not trade it.
My strategy didn’t give me a full confirmation for those moves.
Kudos to those who traded them though.
Today we will be looking at one of the Australian dollar pairs.
Let’s hit the charts fellas.
1. AUD/CAD
The AUD/CAD has finally gotten to a key support level (0.90715)
Presently I would call this a 50/50 trade (Meaning it could go either way)
What we should be looking out for is a bullish/bearish confirmation.
If we do get a bullish confirmation, price level 0.91043 will most likely be our next possible resistance level, and if a breakout occurs we could be looking at a possible +150 pips fall.
This likely move may turn price level 0.89513 as the next support.
Wishing you a pip-full day ahead
