AUDCAD facing bullish pressure | 25 Mar 2021

AUDCAD facing bullish pressure | 25 Mar 2021 for FX:AUDCAD by FXCM

AUDCAD facing bullish pressure | 25 Mar 2021



Prices are facing bullish pressure as it broke out of our descending trend line resistance and are taking support on buy entry which coincides with 50% Fibonacci extension and 78.6% Fibonacci retracement . Prices might bounce towards take profit target which coincides with 50% Fibonacci retracement and 161.8% Fibonacci retracement . If prices push downwards, prices might take support from stop loss level which is in lien with -27.2% Fibonacci retracement an 61.8% Fibonacci extension . Stochastics is also approaching 4.51 level, possible for a bounce, in line with our analysis.

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