AUDCAD is approaching our first resistance at 0.9472 (horizontal overlap resistance, 100% Fibonacci extension, 38.2% Fibonacci retracement, short term descending resistance line) where a strong drop might occur below this level pushing price down to our major support at 0.9329 (horizontal swing low support, 100% Fibonacci extension). Stochastic (21,5,3) is also approaching our resistance where a reaction below this level might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.