ac-1024x394AUD/CAD (H4) price tried previously to break above the important resistance zone. However as we can see on the chart, these approaches were still unsuccessful. Broader trend here is downward one, so if the local lows deepens, then we may observe further losses and bulls capitulation.

AUDCAD_screen 14.01

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Member and editor of Finance Magnates - the biggest FX, and binary options B2B website. A graduate of the University of Economics in Krakow, active publicist since 2012. Technical analysis is always more important to him than the fundamentals – however, he does not reject the importance of macro data. As he assumes that, the simpler the better, he is a strong fan of Price Action trading strategy and Fibonacci retracements.