AUD/CAD Long-Term Trend: Bullish
Key Resistance Levels: 0.92445, 0.92707, 0.92822.
Key Support Levels: 0.92037, 0.91897, 0.91680.
1-Hr Time Frame:
The price on the higher time frame succeeded to break the bearish trendline to the upside after posting a double bottom formation which led to a reversal. the market as well managed to break the resistance level (now support) around the 0.92049 CAD mark. This could lead to a further move to the upside.
AUD/CAD Medium-Term Trend: Bullish
1-Hr Time Frame:
On the lower time frame, the price succeeded to break the bullish flag formation to the upside after finding buyers around the 50% Fibonacci retracement level. A lower correction could be seen before a new bullish impulsive wave toward the target profits.
Buy Limit Order @ 0.92049
TP 1 @ 0.92445
TP 2 @ 0.92707
Stop Loss @ 0.91851
Trade Safely 🙂