On AUD/CAD price chart, the price line has long been bouncing between a support and a resistance level, indicated as a red and a green zone on the chart. The ascending red line on the chart indicates the trend line on the final ascending leg, which is already broken. The gray zone on the chart indicates a potential resistance level which can formed the next bearish leg. Traders can enter short positions and target the support zones mention below as their take profit.
• There is a resistance level at 1.33833 followed by resistance at 1.34118 and 1.34430
• There is a support level at 1.33200. Below, there is 1.33000 and 1.32610.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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