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    Technical analysis of AUD/CAD for March 25, 2016 2016-03-25

    Yet again AUD/CAD is trading right at the R1 resistance (0.9965). Price attempted to break above it yesterday, but failed to do so. While resistance is holding, the probability of a substantial corrective wave down remains highly probable.

    According to my previous analysis, consider holding or entering short positions targeting either S2 (0.9830) or S3 (0.9750). The stop loss should be just above the psychological resistance of 1.0000.

    Support: 0.9880, 0.9830, 0.9750

    Resistance: 0.9965, 1.0000

    AUDCAD_INSTA.png

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