Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: AUD/CAD rebounds from 38.2% Fib, breakout above 0.9820 to see further upside

  • AUD/CAD likely ends consolidation pattern, pair has shown a nice rebound off 38.2% Fib levels at 0.9727.
     
  • On the day, downside was rejected at 0.9784 levels, pair now trades close to 23.6% Fib levels at around 0.9817.
     
  • A decisive breakout above  23.6% Fib will see resumption of upside, next major hurdle at 0.99 and then at 0.9970.
     
  • Bullish invalidation only below 38.2% Fib at 0.9723, violation there could drag the pair to 0.9650 levels.

Recommendation: Good to go long on breakout above 0.9820 levels, SL: 0.9720, TP: 0.99/ 0.9970
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.