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AudCad has moved back up towards 200SMA
The pair is poised to break above 200 SMA, and 100 SMA which are converging on the same level
This is either an area of strong resistance, or a chance for the pair to break and move higher
The daily RSI - which is above 60 - supports the latter:
A break above 100 and 200 SMA would lead the pair towards the daily upper trendline,
which should act as resistance on initial touch
Fibonacci daily expansion level of last move shows a 61.8% expansion level above …
The pair is poised to break above 200 SMA, and 100 SMA which are converging on the same level
This is either an area of strong resistance, or a chance for the pair to break and move higher
The daily RSI - which is above 60 - supports the latter:
A break above 100 and 200 SMA would lead the pair towards the daily upper trendline,
which should act as resistance on initial touch
Fibonacci daily expansion level of last move shows a 61.8% expansion level above …