AUDCAD is testing major resistance at 0.9717 (Fibonacci retracement, horizontal overlap resistance, bearish divergence) and a strong reaction could occur at this level to push prices down to major support at 0.9644 (Fibonacci retracement, horizontal pullback support). Stochastic (55,5,3) is seeing major resistance at 91% where a corresponding reaction could occur. We’re also seeing bearish divergence vs price signalling that a reversal could be impending.
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