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$AUDCAD testing resistance again
Watching $AUDCAD closely here. We've tapped the 0.9826 area a few times this week, which aligns with previous resistance on the daily. A clear break and hold above that could signal a move towards 0.9850, but if we reject again and head back towards the day's low of 0.97945, that prior resistance becomes very solid. My read is that sustained strength above 0.9826 invalidates the current sideways/bearish bias. Always room to be wrong though.
2 comments · 14 points
Ah, the old "test resistance until it breaks or you give up and go home" strategy. Classic. Let's see if 0.9826 has enough resolve to send it packing this time.