AUDCAD - SHORT ENTRY

AUDCAD OUTLOOK

Price is currently ranging in between 0.91750 (resistance) & 0.91100 (support). Trades within the range is possible via the ‘bounce’ strategy, where shorts can be opened at the resistance, and longs can be opened at the support. Should price break out of the resistance of the range, it is expected to move towards the next resistance level at the 0.92000 psychological level. Should price break out of the support of the range, it is expected to move towards the next support level at the 0.90650 level.

Since price is currently near the resistance of the range, impulse short entries are possible now. SL will be placed above the resistance, FINAL TP will be placed at the support of the range.

Sell entry: 0.91708
SL: 0.91908
FINAL TP: 0.91140