Technical Analysis – AUDCAD examines potential pivot point
AUDCAD continues to trim gains, reaches key support level
Technical picture reflects oversold conditions
AUDCAD erased more than half of its October-December upleg to find support around the November 13 low of 0.8755, which overlaps with the 61.8% Fibonacci retracement level of the bullish wave.
Both the RSI and the stochastic oscillators hint at oversold conditions, signaling that the bearish action could soon stabilize. If that proves to be the case, the bulls might again fight for a close above the 50% Fibonacci level of 0.8813 and then battle the tricky region around the 38.2% Fibonacci mark of 0.8872, where the 200- and 20-day simple moving averages (SMAs) are converging towards. A successful extension higher could boost sentiment, lifting the price up to the 23.6% Fibonacci of 0.8945.
Should the floor at 0.8755 collapse, the price could tumble towards the 78.6% Fibonacci of 0.8670 and perhaps test the 0.8630 constraining zone too. A break below the latter point could pick up steam towards the 3½-year low of 0.8563 registered in September and then examine the broken resistance trendline drawn from January 2023 at 0.8535.
In summary, the latest downfall in AUDCAD seems overdone, making an upside correction possible in the coming sessions. Yet, whether the pair will find enough buyers to overcome key resistance levels on the upside remains to be seen.
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
