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Monday, June 26, 2017

AUD/CAD: Another Opportunity to Open Short Position

After taking profit from my previous position on AUD/CAD currency pair seems like there is another chance to enter the market and open another Short Position.

As shown in the following picture, there are several support and resistance levels that will determine AUD/CAD movement. 

1.00662 would be the Strong Resistance for now. Market will try to keep the pair below the level at least for the next 6 hours. 

Technically, AUD/CAD will try to enter the yellow zone. 

I'm looking forward to exit from the market and take profit at above 1.00341 for today.