FX.co ★ AUDCAD facing bullish pressure, potential for further upside!

AUDCAD is facing bullish pressure as it took support from the ascending trendline. It is also taking support from 100% Fibonacci extension as well as 61.8% Fibonacci retracement. Prices are likely to increase to 1st resistance at 61.8% Fibonacci retracement.

Trading Recommendation

Entry: 0.98250

Reason for Entry: Ascending trendline, 100% fibonacci extension, 61.8% fibonacci retracement, horizontal swing low

Take Profit: 0.98624

Reason for Take Profit:horizontal swing high, 61.8% fibonacci retracement

Stop Loss: 0.98106

Reason for Stop Loss: horizontal swing low, 127.2% fibonacci extension