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AUD/CAD – Consolidating above the Key Support Level!

AUD/CAD – Consolidating above the Key Support Level!
  • Resistance Zone: 0.9210 to 0.9240
  • Key Resistance: 0.9134
  • Major Pivot Point: 0.9028
  • Key Support Level: 0.8923
  • Support Zone: 0.8840 to 0.8810
  • 200 Day SMA – Green Line
  • 50 Day SMA – Red Line
AUD/CAD Daily chart

Trade Insights – AUD/CAD

The chart shows Viable Long Positions above the Key Support Level at 0.8923, with the first target of the Pivot at 0.9028 and then the test of the Key Resistance Level at 0.9134.

Alternatively, Short positions below the Key Support level at 0.8923, with the target to head towards the Support Zone at 0.8840 to 0.8810.

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Disclaimer

The information provided is of a general nature and is not intended to be personalised financial advice. The information provided is not intended to be a substitute for professional advice. You may seek appropriate personalised financial advice from a qualified professional to suit your individual circumstances.

Trading in Rockfort Markets derivative products may not be suitable for everyone as derivative products may be considered as high risk. Please ensure that you understand the risks involved. A Product Disclosure Statement can be obtained here and should be considered before trading with us.

Vishal, R.

August 8, 2022

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