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FX.co ★ Technical analysis of AUD/CAD for March 25, 2016

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Forex Analysis

2016-03-25T10:21:13
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Technical analysis of AUD/CAD for March 25, 2016

Yet again AUD/CAD is trading right at the R1 resistance (0.9965). Price attempted to break above it yesterday, but failed to do so. While resistance is holding, the probability of a substantial corrective wave down remains highly probable.

According to my previous analysis, consider holding or entering short positions targeting either S2 (0.9830) or S3 (0.9750). The stop loss should be just above the psychological resistance of 1.0000.

Support: 0.9880, 0.9830, 0.9750

Resistance: 0.9965, 1.0000

Technical analysis of AUD/CAD for March 25, 2016

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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