AUDCAD, H4 | Bearish Momentum


Type: Bearish ReversalKey Levels:Resistance: 0.91349Pivot: 0.91066Support: 0.90379Preferred Case:Prices are on bearish momentum. We see the potential for a pullback from our Pivot at 0.91066 which is an area of Fibonacci confluences towards our 1st support at 0.90379 in line with 78.6% Fibonacci retracement. Our bearish bias is further supported by prices trading below our Ichimoku clouds and RSI is at a level where dips previously occurred.Alternative Scenario:Alternatively, prices may go towards our 1st resistance at 0.91349 in line with 50% Fibonacci retracement.

Source: Tickmill

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