AUDCAD weekly – waiting for test of 0.9670

I posted trade ideas on this pair on 12 and 20 November and since then it broke parity and has fallen nearly 330pips. It broke the support @0.9947 and a key support level at 0.9730 last Thursday and now testing 0.9670. This pair is extremely oversold on the Weekly and I’m waiting to see if it will break the 0.9670 support level, failing, I want to buy it up to 0.9829 as it’s due for a pull-back. Of course as with all pairs, I will wait to see how the market opens later today.

AUDCAD weekly - 2 Jan 2017

Source: Maryna

Leave a Reply