Orion-Markets

AUD CAD short idea

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OANDA:AUDCAD   Dólar Australiano/Dólar Canadense

AUDCAD has seen some solid movement to the upside this morning, with the price increasing by just under 0.4%. This movement happened when the price came down and reached a confluence zone where price has reacted too in the past. On the 4hr chart, the RSI levels are very overbought and have just crossed, indicating a drop-in price is likely. The initial target for this trade is at the zone mentioned above,0.9172 level, following that secondary profit targets is at the support zone of 0.91396.

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