AUD/CAD Long-Term Trend: Bullish
Key Resistance Levels: 0.9274, 0.93169, 0.94000.
Key Support Levels: 0.92436, 0.92223, 0.92000.
The price on the higher time frame broke the descending channel to the upside after the Wyckoff accumulation phase. We have seen higher highs and lows which led to a break of the key resistance line (now support). We expect further movement to the upside toward the next key resistance zone.
AUD/CAD Medium-Term Trend: Bullish
On the lower time frame, the pair showed an inverse head and shoulders which indicates a potential end of the pullback. A lower correction is expected before a new impulsive wave toward the target profits.
Buy Limit Order @ 0.92435
TP 1 @ 0.92723
TP 2 @ 0.93169
Stop Loss @ 0.92289
Trade Safely 🙂