The current technical pattern on the AUD/CAD currency pair signals the development of correction movement after a prolonged fall. A classic reversal pattern, Triple Bottom (H1 timeframe),has been formed in the trading instrument. At the moment, AUD/CAD quotes are in the range of 0.8455-0.8550. We recommend paying attention to this situation.
If the price fixes above 0.8550, it is necessary to look for entry points to the market to open long positions. The nearest goal for profit-taking is 0.8625-0.8685. The movement is tending to the round level of 0.8800. When following positions, we recommend using a trailing stop.
This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.Open Account