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AUD/CAD Potential Downward Movement

AUD/CAD Long-Term Trend: Bearish

Key Resistance Levels: 0.89003, 0.89339, 0.89800

Key Support Levels: 0.88508, 0.88122, 0.87858

Daily Chart:

The price on the higher time frame has been in a downtrend recently after it faced resistance at a major level of 0.90293 and reversed. The pair has broken a support level of 0.88996 which suggests further trend continuation.

AUD/CAD Medium-Term Trend: Bearish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It broke a consolidation zone of 0.89800 and 0.89339 and has sustained below that. As of now the pair has broken and retested a minor level of 0.89003 before continuing the momentum.   

Signal Idea:

Sell Limit Order @ 0.88810

TP @ 0.88509

Stop Loss @ 0.89110

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.


  1. Can you explain the trade? Your sell limit order price doesn’t make sense.

  2. So you’re expecting it to raise from 0.88630 (current price) to 0.88810, (we buy here), and then drop to 0.88509?

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