$AUD/CAD is traded very bearish since the 16th of the past month , the price moved down from the highest high at 0.9135 to the current lowest low and our demand zone at 0.8760 , failing to break under it and to continue it's bearish run down to the under price levels , the price showed some strength by breaking above 0.8848 ( a strong resistance ) , so if we get a break above the second resistance of 0.8891 there is a high chance for the price to pump all the way up to 0.8973 ( an opportunity move of 90 pips ) , so as long as price stay being traded above our demand zone there is a high chance for us to assist that pump .
I personally suggest to play your safe buys once the price breaks above 0.8891 and only to look for sell scalps under 0.8845.
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I personally suggest to play your safe buys once the price breaks above 0.8891 and only to look for sell scalps under 0.8845.
If you find the analysis of help and value please consider to support this account by following liking and commenting bellow , many analysis and trade ideas are to come so stay tuned and make sure to not miss any of it !
I see you soon in the next post !