AudCad short till 0.89?

8 בנוב׳ 2019

AudCad is in a very strong downtrend for many years now. After reaching 0.89 the pair tried to recover in the past 3 months but faced STRONG resistance at 0.91 figure, old support which held over the years. Now the pair seems like its resuming its downtrend and we can expect a test of support in the next week or so. Only a daily close above 0.9100 figure will negate this view.

Strategy:
Sell market
SL @ 0.9130
TP @ 0.8900