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Daily analysis
AUDCAD opened the week at 0.9847 and touched a high of 0.9874. The pair then reversed directions and dropped to 0.9896, as support held firm at 0.9812. The pair closed the week at 0.9756. And the price of 0.9744 has been significant in the recent history of AUDCAD , and with a mid-line of a down-ward sloping channel offering an additional impetus for support, top-side reversal setups became attractive as a 1-to-4 risk-reward ratio was available using that 0.9568 level for risk wi…
AUDCAD opened the week at 0.9847 and touched a high of 0.9874. The pair then reversed directions and dropped to 0.9896, as support held firm at 0.9812. The pair closed the week at 0.9756. And the price of 0.9744 has been significant in the recent history of AUDCAD , and with a mid-line of a down-ward sloping channel offering an additional impetus for support, top-side reversal setups became attractive as a 1-to-4 risk-reward ratio was available using that 0.9568 level for risk wi…