AUD/CAD Potential Upward Movement

AUD/CAD Long-Term Trend: Bullish

Key Resistance Levels: 0.9242, 0.9289, 0.9334

Key Support Levels: 0.9172, 0.9128, 0.9098

Daily Chart:

The price on the higher time frame has reversed the direction after it found support around 0.8752 level. The pair then consolidated for some time in a range and the upper range has been broken. A resistance level of 0.9117 has also been broken which indicates 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 0.9030 and 0.9128 and has sustained above that. The pair has now broken and retested a minor level of 0.9172 before continuing the momentum.

Signal Idea:

Buy Stop Order @ 0.9196

TP 1 @ 0.9234

TP 2 @ 0.9291

Stop Loss @ 0.9158

Trade Safely 🙂