Here is our detailed technical review for AUDCAD.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 0.899.
Considering the today's price action, probabilities will be high to see a movement to 0.895.
P.S
We determine oversold condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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