AUD/CAD looking for offers around 0.9630

AUD/CAD looking for offers around 0.9630

2019-11-11 • Updated

AUD/CAD has been heavily sold during the last few days after having found a strong dynamic resistance in the 200 SMA at H1 chart. However, it took a pause at the 0.9553 level and a bullish retracement is taking place. Currently, the pair is looking for the Fibonacci level of 50% at 0.9629, where a pullback should put it on the way to reach the next target placed at the Fibonacci target of -23.6% at 0.9517.

RSI indicator stays in the positive territory, favoring to the bulls in the short-term.

AUDCADH1.png

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