FX.co ★ AUD/CAD approaching support, potential bounce!

AUD/CAD is approaching our first support at 0.9485 (horizontal overlap support, 38.2% fibonacci retracement, 100% fibonacci extension) where a strong bounce to our major resistance at 0.9524 (horizontal overlap resistance, 50% fibonacci retracement) might occur. Stochastic is also nearing support where we might see a corresponding bounce in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment, so please ensure you fully understand the risks.