AUDCAD Daily

On daily chart can be observed upward trend. Price initially led to a strong impulse, then after correction formed upward channel. Currently we can notice that after setting a new higher high price is correcting the impulse and is close to the bottom of the formation. It is worth to view lower time frame.

AUDCAD H4

AUD/CAD on H4 chart approach to test the support level at 1.0075. This level coincides with the 61.8% FIBO abolition (measured from the low of 02.17.2017 r.) and a growing band of averages EMA (75-, 100-periodic). Probably test of these areas will be characterized by increased reaction of the demand side. Resistance is located in the vicinity of the last high at the level of 1.0150.

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