AUDCAD / H1 / Daily Forex Technical Analysis / 5.15.2019

Hello Traders, welcome to the Daily Forex technical analysis. Today is May 15th, 2019 and we will be taking a look at the Australian Dollar against the Canadian Dollar. Now keep in mind we do have some numbers coming out for China and the Aussie this evening that could give us some volatility. Looking at the 1 hour time frame we can see price action has retraced back to the .9325 support area, if price action holds this area we will be looking for an opportunity Long. Entry for a Long position near the .93260 area, with a Stop Loss near the .93123, with a target profit level area of .93646 to ensure a profitable trade with a 2.82 to 1 R/R.