AUD/CAD 4H Chart: Falling Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
AUD/CAD fell from two and a half year highs inside a wedge that now brings some bearish potential to the table. The pair has just overstepped the upper trend-line of the pattern and will face several resistance levels along the surge. Immediate supply lies at 0.9866 and 0.9884 before a red cloud of 0.9893/0.9974 comes along. We would expect at least some sort of retracement of the broken line, meaning that a short-lived fall will be assisted by one of the levels. An unlikely return inside of the pattern would face support at 0.9801.

Actual Topics