The AUDCAD pair is currently drawing a double top on the 1.0710 level after a strong bullish movement. In terms of technical indicators, the RSI is marking a bearish divergence which confirms the hypothesis of a corrective movement on the pair. We also have a fake crossover on the MACD which is getting a little bit closer to its negative zone. Investors will be able to trade on a fall of the AUDCAD to target a return on the lower Bollinger band at 1.0550.
Direction: Down
Entry: 1.0656
Stop-loss: 1.0720
Take-profit: 1.0560
