AUDCAD is on a downward trend and is capped by the fibbo resistance around 0.9410 and the downward trend line just below that. The asset remains responsive to risk off mood which we could see play out with the current volatility that lies ahead around the US election. We saw it test the 0.9347 fibbo support a few days ago and have since bounced. I remain a seller of the rallies as I feel that the market is trading a blue wave at the moment and therefore and change of view no matter how big or small, will cause a risk off mood and this trade should come into play. I have opened a short at 0.9360, SL 0.940 (on the close) and finally a TP 1: 0.9347 TP2: 0.9303.
Comment:
Sold another clip at 0.94
Comment:
Closed the clip that I sold at 0.94 at 0.9369 for a profit of +31 pips!