The AUDCAD approaches the resistance – Analysis – 16-7-2019

The AUDCAD pair formed correctional bullish rebound to approach the bearish channel’s resistance at 0.9195, expecting to form solid barrier against the bullish attempts to force to form negative fluctuations in order to record the negative targets around 0.9130 followed by 0.9072 levels.

Note that succeeding to surpass the current resistance and providing positive close above it will confirm cancelling the bearish scenario and start building bullish trades to target 0.9238 and 0.9286 levels.

The expected trading range for today is between 0.9200 and 0.9130

The expected trend for today: Bearish