SUMMARY:-
The primary trend of
AUDCAD
is bearish on charts but from past few trading sessions prices are
not sustaining at lower levels & consolidating with strong
positive bias to give break out at upside. In its hourly chart,
prices are facing an important resistance at the level of 0.9550 . It
is also taking support of 30 DMA. If the pair breaks the resistance
level of 0.9550 at upside then we can expect it to test the level of
0.9615/0.9650.
INDICATORS:-
RSI is sustaining in buying territory supporting the
upcoming bullish trend in the pair.
MACD line is also sustaining in buying territory
indicating the bullish trend in the pair.
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| Technical Chart |
STRATEGY:-
AUDCAD
has bounced back from the lower level & looking bullish on charts
for next few session. One can go for buy on dips strategy for this
pair for intra day to mid term positions.
