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AUD/CAD Potential Upward Movement

AUD/CAD Long-Term Trend: Bullish

Key Resistance Levels: 0.9010, 0.9068, 0.9132

Key Support Levels: 0.8926, 0.8876, 0.8826

Daily Chart:

The price on the higher time frame has recently reversed the direction after having a bearish run. The pair has found support at the 0.8763 area and has formed a rejection wick. It has broken a resistance level of 0.8881 which indicates a bullish bias.

AUD/CAD Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. The price recently broke a resistance level of 0.8876 after finding support at the 0.8826 level. It has now broken and retested the 0.8926 level. 

Signal Idea:

Buy Stop Order @ 0.8957

TP 1 @ 0.9004

TP 2 @ 0.9098

Stop Loss @ 0.8910

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.

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