AUDCAD Is Going Up! Buy!
Updated
Here is our detailed technical review for AUDCAD.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 0.919.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 0.937 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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I am confident in this trade so I will keep it open!
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