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AUDCAD: Which Way Will the Breakout and Price Head To?

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AUDCAD’s price has been caught within an ascending triangle on the H4 chart. The price had rejections twice from the level of resistance and bounced three times at the level of support. The range has been squeezed, so a breakout is about to take place soon.

The support seems a bit stronger here than the resistance. However, it seems a very interesting battle between the buyers and sellers. Let us have a poll here to find out whether the support or resistance breakout will take place and where will the price head to.

Scenario 1: The resistance level will be breached and the price will head towards the North.

Scenario 2: The support level will be breached and the price will head towards the South.

AUDCAD: Which Way Will the Breakout and Price Head To?

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