AUDCAD was identified at around 0.88591 having recently rebounded of the resistance on the 4 hour data interval. Ultimately, the price action of the stock has formed a Falling Wedge pattern. This squeeze may increases the chances of a strong breakout. The projected movement will potentially take the price to around the 0.8808 level.
Related Posts
EURJPY is quickly approaching the resistance line of a Channel Up. We expect either a breakout through this line or a rebound.
Emerging Channel Up detected on EURJPY – the pattern is an emerging one and has not yet broken…
GBPCHF likely to test 1.1041 in the near future. Where to next?
GBPCHF is moving towards a line of 1.1041 which it has tested numerous times in the past. We…
A possible move on GBPJPY as it heads towards resistance
GBPJPY is trapped in a Rising Wedge formation, implying that a breakout is Imminent. This is a great…