Near Term Resistance Looks KeyPrice action on the daily chart of the AUDCAD has formed a top and has been unable to breakout to create new highs.
As the 4 hour chart shows; after forming a period of consolidation, price has broken lower and moved into the intraday support level.
If price can now rotate back higher, the old support could look to be a new price flip resistance and a potential area to look for smaller time frame short trades.
