AUDCAD poised for bearish momentum acceleration
- I've been eyeing this pair for a while now. In fact, I actually do have a short position that was entered a little pre-mature.
- Divergence is most noticeable on the 4-hour timeframe. The RSI is painting a ratio of greater average down moves yet price is creeping higher.
- Price is also being held resisted at the 0.8980-ish mark. Given the number of times it has tested, it's safe to say that there's no fresh buy orders to push the price higher.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.