AUDCAD Facing Resistance on the Hourly
I see AUDCAD testing a key horizontal resistance zone on the 1H timeframe. The risk/reward favors a bearish move from here.
AUDCAD – Resistance Holding
After a steady climb, AUDCAD is now pressing against a horizontal resistance level that has held multiple times on the hourly chart. I prefer to wait for confirmation, but the structure suggests sellers may step in here.
The risk/reward is skewed to the downside if we see a rejection. I am watching for price to stall and roll over, keeping stops tight above the zone. No rush to enter, but the bias is bearish as long as this level holds.
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