AUD/CAD: 4-hour
Looks like parity held like a boss for AUD/CAD once again! The downtrend is still intact though, as a falling trend line can be drawn to connect the latest highs on the 4-hour forex chart. Stochastic is climbing, which means that there’s enough buying momentum to push the pair up to the trend line resistance once again. The 200 SMA could hold as resistance, as this is close to the trend line and the 61.8% Fibonacci retracement level. Watch out for reversal candlesticks at the 1.0150 minor psychological resistance if you’re thinking of shorting.
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