– AUDCAD reversed from support level 0.8575
– Likely to rise to resistance level 0.8735
AUDCAD recently reversed up from the pivotal support level 0.8575 (former monthly low from November) which formed the daily candlesticks reversal pattern Bullish Engulfing in September.
The price is also currently forming the daily Bullish Engulfing – strong bullish signal for this currency pair.
Given the strength of the support level 0.8575, continued AUD gains and the clear bullish divergence on the daily Stochastic, AUDCAD can be expected to rise further toward the next resistance level 0.8735.
- EURCAD reversed from pivotal support level 1.4900 - Likely to rise to resistance level…
- EURUSD reversed from support level 1.1030 - Likely to rise to resistance level 1.1200…
The unwinding of the carry trade in the FX market continues, with the major safe…
Market Picture The pressure on risk assets continues, pushing the crypto market capitalisation back below…
- AUDUSD reversed from support level 0.6700 - Likely to rise to resistance level 0.6800…
- Gold reversed from support level 2475.00 - Likely to rise to resistance level 2535.00…
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