AUDCAD is facing bullish pressure as it took support from the ascending trendline. It is also taking support from 100% Fibonacci extension as well as 61.8% Fibonacci retracement. Prices are likely to increase to 1st resistance at 61.8% Fibonacci retracement.
Trading Recommendation
Entry: 0.98250
Reason for Entry: Ascending trendline, 100% fibonacci extension, 61.8% fibonacci retracement, horizontal swing low
Take Profit: 0.98624
Reason for Take Profit:horizontal swing high, 61.8% fibonacci retracement
Stop Loss: 0.98106
Reason for Stop Loss: horizontal swing low, 127.2% fibonacci extension
