Sunday, 15 March 2015

AUD/CAD Forex Signal for Monday, March 16 2015


AUD/CAD (4 HOURLY )

AUD/CAD

RECOMMENDATION : BUY TARGET 0.9945
 
SUMMARY:
The major trend of AUD/CAD is bearish but from past few weeks prices are not sustaining at lower levels & consolidating near the important level of 0.9810. Prices are taking resistance of falling trendline & consolidating with strong positive bias. If the pair breaks the important level of 0.9810 at upside then we can expect it to test the level of 0.9880/0.9945.

INDICATORS:-
RSI is sustaining in buying territory supporting the upcoming bullish trend in the pair. MACD is also sustaining above the zero line,indicating the up trend in the market.

STRATEGY:- AUD/CAD has bounced back from the lower level & looking bullish on charts for next few session. One can go for buy on dips strategy for this pair for intra day to mid term positions.