Large Channel Setup in AUD/CAD Currency Pair

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By Jamie Saettele | Published 12/2/2005 | Currency | Unrated

Large Channel Setup in AUD/CAD Currency Pair

Weekly Chart Analysis: Large Channel Setup in AUD/CAD

AUD/CAD continues to trade within a Large Channel
High probability setup points to a possible move below the 78.6 of the .7548-1.0557 AUD rally
Failure analysis points to a move a break above the Channel's upper boundary

Key Levels - Current Price: .8846

Level     Type            Significance
.9052    Resistance     50.0 Fib of the .7548-1.0557 AUD rally
.8697    Resistance     61.8 Fib of the .7548-1.0557 AUD rally
.8181    Support          78.6 Fib of the .7548-1.0557 AUD rally

Weekly Chart 12-02-05

Daily Chart I 12-02-05

Daily Chart II 12-02-05

Daily Chart III 12-02-05

Sam Shenker is a Technical Currency Analyst for FXCM.

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