AUDCAD recently reversed down from the pivotal resistance level 0.8700 (former strong support from March), standing near the 61.8% Fibonacci retracement level of the previous sharp downward impulse wave (3).
The downward reversal from the resistance level 0.8700 created the daily Japanese candlesticks reversal pattern Bearish Engulfing –which was followed by the daily Shooting Star.
Give the overriding daily downtrend – AUDCAD is likely to fall further toward the next round support level 0.8500.
- USDJPY broke key resistance level 155.00 - Likely to rise to resistance level 160.00…
- Ebay reversed from support level 49.35 - Likely to rise to resistance level 52.55…
Even though the Bank of Japan left the key rate and parameters of the QE…
Market picture Market Dynamics: The cryptocurrency market stabilised, losing just 0.1% of capitalisation and dropping to…
- GBPCAD reversed from key support level 1.6910 - Likely to rise to resistance level…
- GBPAUD reversed from support level 1.9135 - Likely to rise to resistance level 1.9360…
This website uses cookies
