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AUD/CAD Potential Upward Movement

AUD/CAD Long-Term Trend: Bullish

Key Resistance Levels: 0.9252, 0.9305, 0.9368

Key Support Levels: 0.9170, 0.9098, 0.9055

Daily Time-frame:

The price on the higher time frame has been moving recently in a higher-high, higher-low formation with a support level maintained at the trendline. The pair previously faced rejection at 0.9168 level and was rejected from there. As of now, that level has been broken and there is good momentum in the move.

AUD/CAD Medium-Term Trend: Bullish

1-Hour Time-frame:

On the lower time frame, the price has shown a similar move as the daily chart, higher-high, higher-low formation, has broken a resistance zone and has sustained above that point. The Australian dollar has been in an uptrend recently and the Canadian dollar is bearish.  

Signal Idea:

Buy Stop Order @ 0.9195

TP 1 @ 0.9229

TP 2 @ 0.9265

Stop Loss @ 0.9167

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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