AUDCAD 4-hr Key Reversal Bar At Resistance
DailyFX.com -
Talking Points:
Remaining a seller in AUDCAD 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
AUDCAD 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 AUDCAD to decline much lower.
AUDCAD 4-hr: Dec ’14 - Present
--- Written by Paul Robinson, DailyFX Research
To contact Paul, you can email him at probinson@fxcm.com
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