Watch a breakout in AUDCAD

6 Sep 2019

AUDCAD is likely to breach one and a half month old resistance trend line on intraday chart. Though, the currency pair hit the trend line multiple times in past but each time failed to rupture it. However, a breakout is expected this time. So, the traders are suggested to watch a cross above the trend line carefully and enter a long position once the price gives a closing above. The first target can be at 0.9080 and the next target is at 0.9187.
Stop Loss- 0.8927