Price is pulling back following a break through strong support levels of the 200 EMA and VWAP. As price pulls back, I am looking for a rejection at the resistance level for a short opportunity. AudCad is bearish in an overall downtrend. Price is has also broken Golden Ratio which supports my bearish direction. RSI is showing lower momentum. Good risk/reward ratio if this plays out.
NOTE: This is not trading advice; trade at your own risk....