AUD/CAD Sell Strategy: Testing Resistance with Downside Targe
- Trade Setup: AUD/CAD is currently selling at 0.9266, targeting 0.8939.
- Key Resistance Level: The 0.9270 level acts as resistance, aligning with a significant Fibonacci retracement.
- Recent High & Low:
- High: Recent high around 0.9380.
- Low: Current low near 0.9102.
- Technical Signals:
- Resistance at 0.9270 marks a potential reversal zone, reflecting selling pressure.
- Bearish momentum is expected toward 0.8939, which is contingent on sustained downward movement.
- Market Context: Recent highs and lows frame a broad trading range, with Fibonacci levels adding technical validity to sell-side positions near resistance
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