Talking Points:
- Remaining a seller in AUDCAD as it continues its bearish ways
- During the European session the cross tested and got rejected at resistance
- Eyes on December low of 9395 with further weakness
AUDCAD remains in focus from the short-side as AUD continues to be weak versus other major currencies. A key 4-hr reversal bar into resistance offers another entry for the bears. I have my sights set on the December low (9395) as a target. Should it submarine down to that level I will look to re-assess, but bigger picture I expect AUDCAD to decline much lower.
AUDCAD 4-hr: Dec ’14 - Present
--- Written by Paul Robinson, DailyFX Research
To contact Paul, you can email him at instructor@dailyfx.com
