AUD CAD Short Idea AUDCAD has been in a decent uptrend for most of December, however, it has started to approach a key resistance level on the 4hr time frame. The key level mentioned is the 0.925 level which is the high of early November. The RSI indicators on the daily/4hr time frame show an overbought bias, coupled with the approach to the key level mentioned above leads me to think that the price will drop from here. The initial target of this trade is located at the 0.9175 area, following this then the next target lies at 0.9143. The stop-loss area for this trade is at the 0.93 level. A likely scenario that I'm looking for sells near to the 0.925 area.
