This is an analysis of the AUD/CAD on the D1 time frame. The AUD/CAD is trending down on the D1 time frame. Current support level is 0.9720, you can set an audible price alert here. When the alert hists look for a sell signal on The Forex Heatmap®.
The next support level below the price alert point is at 0.9575, see the yellow line on the chart. So there is about 135 pips of potential on a sell. This would be a good price area for some profit taking. Traders can check the W1 time frame also, it is close to starting a downtrend also, and this pair could move much lower than the 0.9575 support level.
This analysis was performed with some very simple exponential moving averages set up on 5 and 12 periods. These moving average forex trend indicators that are available free to any forex trader.