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Aud/Cad is still within a broadening wedge pattern on the weekly chart
Price action has the pair heading for the lower border of this broadening wedge pattern again,
and a break below the 61.8% fibonacci support level of the last weekly move up supports this
We also see that there is bearish divergence if we use the Stoachistic indicator
Aud/Cad weekly chart
On the daily chart we can see that the price is moving back up at the moment,
this could indicate a retest of the broken fibonacci level
If…
Price action has the pair heading for the lower border of this broadening wedge pattern again,
and a break below the 61.8% fibonacci support level of the last weekly move up supports this
We also see that there is bearish divergence if we use the Stoachistic indicator
Aud/Cad weekly chart
On the daily chart we can see that the price is moving back up at the moment,
this could indicate a retest of the broken fibonacci level
If…