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AUD/CAD: Key Reversal Bar At Resistance

ByDaily Fx
Published 02/04/2015, 09:37 AM
Updated 05/14/2017, 06:45 AM
AUD/CAD
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Talking Points:
  • Remaining a seller in AUD/CAD as it continues its bearish ways
  • During the European session the cross tested and got rejected at resistance
  • Eyes on December low of 9395 with further weakness

AUD/CAD remains in focus from the short-side as AUD continues to be weak versus other major currencies. A key 4-hr reversal bar into resistance offers another entry for the bears. I have my sights set on the December low (9395) as a target. Should it submarine down to that level I will look to re-assess, but bigger picture I expect AUD/CAD to decline much lower.

AUD/CAD 4-hr Key Reversal Bar At Resistance

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