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AUD/CAD Potential Upward Movement

AUD/CAD Long-Term Trend: Bullish

Key Resistance Levels: 0.9210, 0.9269, 0.9336

Key Support Levels: 0.9110, 0.9069, 0.9023

Daily Chart:

The price on the higher time frame has recently reversed the direction after it found support at the 0.8752 level. The pair has broken a resistance level of 0.9117 with good momentum after consolidating for some time 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. It broke a consolidation zone of 0.8981 and 0.9023 and sustained above that. The pair has now broken and retested a minor level of 0.9110 before continuing the momentum.

Signal Idea:

Buy Limit Order @ 0.9145

TP 1 @ 0.9198

TP 2 @ 0.9278

Stop Loss @ 0.9092

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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