FX:AUDCAD   Australian Dollar/Canadian Dollar
Afternoon traders,

Looking at Aussie dollar versus Canadian dollar as it trades around support levels from early March whilst matching up with extreme oversold levels on both RSI and stochastics.

Additionally the move lower appears to be running out stream here both on volume and on price action with the pair sticking in a 30pip range for the past 24 hours.

Our trading view chart should explain our view perhaps better than our description here. We are very mindful of the risk of Trump hitting twitter again with further hard ball talk around China and so we are positioning our lot sizes accordingly.

As always we try to keep our analysis clean and easy for anyone to be able to follow but should you want to learn more then please do get in touch.

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Good luck trading

from the Team at forexTrdr

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