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FinancialGamblR

AUDCAD poised for bearish momentum acceleration

Short
Australian Dollar/Canadian Dollar (OANDA:AUDCAD)  
FinancialGamblR  
OANDA:AUDCAD   Australian Dollar/Canadian Dollar
Support and Resistance Supply and Demand Chart Patterns audcadshort audcadsell AUDCAD audcadbearish
10
3
supportandresistance supplyanddemand chartpattern audcadshort audcadsell audcad audcadbearish
  • I've been eyeing this pair for a while now. In fact, I actually do have a short position that was entered a little pre-mature.
  • Divergence is most noticeable on the 4-hour timeframe. The RSI is painting a ratio of greater average down moves yet price is creeping higher.
  • Price is also being held resisted at the 0.8980-ish mark. Given the number of times it has tested, it's safe to say that there's no fresh buy orders to push the price higher.
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