AUDCAD Buy signal at the bottom of the Channel Up.

6 Ara

The AUDCAD pair has been trading within a Channel Up pattern since the September 27 2023 Low and at the moment it is in the process of forming a new Higher Low. All previous Higher Lows were formed one the 1D RSI almost touched the 30.00 oversold barrier. Right now it is a little more than 5.0 points away from it, so buying starts getting highly favorable on the current levels.

In any case, a break above the 1D MA50 (blue trend-line) would confirm the start of the new Bullish Leg and if it follows the previous sequence, it should peak above the -0.5 Fibonacci extension. As a result, our 0.95000 Target is more than valid for the medium-term.

-------------------------------------------------------------------------------

** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **

-------------------------------------------------------------------------------

💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇