AUD/CAD Signal - April 10, 2013

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By: DailyForex.com

The AUDCAD pair has been in an uptrend for several weeks and could test its major resistance at 1.0760 in the coming days. In terms of technical indicators, the RSI stays well directed above its neutrality area while the MACD still in positive territory, is about to cross its signal. In this context, the support on the lower Bollinger band can be taken advantage of by investors.
Direction: Up
Entry: 1.0659
Stop-loss: 1.06
Take-profit: 1.0750

AUDCAD Signal

Maxime Parra has been trading since the age of 18, and he is now in charge of technical and fundamental analysis at BNRY.com and Tmarkets.com. Fascinated by the psychology of financial markets and technical analysis, he is also the head of the “Fédération Sud Finance” and is preparing for the Degree of the Chartered Financial Analyst (CFA) level 1 at the SKEMA Business School. Maxime favors trend following strategies by combining chartist analysis with the use of technical indicators.