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AUD/CAD Potential Upward Movement

AUD/CAD Long-Term Trend: Bullish

Key Resistance Levels: 0.94182, 0.94511, 0.95000.

Key Support Levels: 0.93815, 0.93475, 0.93324.

Daily Time Frame:

The price on the higher time frame is in a clear upward movement where a series of higher highs and lows has been posted. The market found support around the previous swing high and it posted a doji bar. We expect that further movement to the upside could be seen.

AUD/CAD Medium-Term Trend: Bullish

Key Resistance Levels: 0.94182, 0.94511, 0.95000.

Key Support Levels: 0.93815, 0.93475, 0.93324.

Daily Time Frame:

The price on the higher time frame is in a clear upward movement where a series of higher highs and lows has been posted. The market found support around the previous swing high and it posted a doji bar. We expect that further movement to the upside could be seen.

AUD/CAD Medium-Term Trend: Bullish

1-Hour Time Frame:

On the lower time frame, the buyers succeeded to break the bearish trend line to the upside after a double bottom formation. A lower correction could be posted to the support level to bring back liquidity before a new bullish impulsive wave toward the target profits.

Buy Market Order @ 0.93851

Target Profit 1 @ 0.94182

Target Profit 2 @ 0.94511

Stop Loss @ 0.93521

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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