AUD/CAD Broadening Formation sets up Selloff

03.18.19 10:12 PM Comment(s) By Alan Posner

AUD/CAD on an 8-hour chart has been moving in a descending broadening formation with the right angle resistance line at .9475.  The last two candles have formed spinning tops and with our short position, we are looking for lower prices from here.  From a longer-term perspective this retracement can remain under .9500 and keep the rationale for our short trade valid.

AUD/CAD Broadening Wedge sets up next move lower
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