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AbeikuGlobal_FX

AUDCAD, Bulls to break upside (Long)

Australian Dollar/Canadian Dollar (OANDA:AUDCAD)  
AbeikuGlobal_FX  
OANDA:AUDCAD   Australian Dollar/Canadian Dollar
Beyond Technical Analysis Fundamental Analysis Chart Patterns audcadidea Trend Line Break Fibonacci Retracement beyondtechnicalanalysis audcadforecast AUDCAD oanda zigzagpattern
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beyondta fundamental chartpattern audcadidea trendlinebreak fibonacciretracement beyondtechnicalanalysis audcadforecast audcad oanda zigzagpattern
The price suffered a major decline between 22nd February 2021 (0.99901) to 10th October 2022 (0.86040) and the market bulls took over to correct the price to 0.95489 on 23rd January 2023.

Since then, price has been a decline for the past consecutive 8 months in a descending channel.

Price is nearing a yearly trendline support level which the bulls are accumulated ready to take control at the 0.86241 support level.

The market is ready for another major correction upwards.

The news this week on AUD are not serious but on Thursday Tokyo session on employment change and unemployment rate. Keep an eye out for it.

Support: 0.86241
Resistance: 0.87484 TP1
0.88216 TP2
0.88938 TP3
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