AUDCAD has reached a significant resistance zone, highlighted by previous price rejections and strong selling pressure. This area has historically acted as a supply zone, increasing the likelihood of a pullback if sellers step in.The current market structure suggests that if the price confirms a rejection from this resistance, we could see a move lower toward the 0.90200 level, a logical target based on past price behavior and current market structure.
Just my take on support and resistance zones—not financial advice. Always confirm your setups and trade with solid risk management.
Best of luck!
Trade active
Note
I am thinking of setting break even.Note
It started to show some signs of strength eventuallyTrade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.