AUDCAD Analysis
AUDCAD has tapped and rejected its 3-quarter low of 0.85930, a level that’s held since April 2009. The 4H chart shows consolidation in a 50-pip range between 0.85930 and 0.85342.
We’re watching for a bullish 4H candle close above 0.85930 for safer entries. The safest confirmation comes above 0.87060, which would confirm a break of both a key level and bearish structure.
This setup has potential to evolve into a long-term swing with 700+ pips on the table if held. Trade patiently and wait for clean confirmations.
AUDCAD has tapped and rejected its 3-quarter low of 0.85930, a level that’s held since April 2009. The 4H chart shows consolidation in a 50-pip range between 0.85930 and 0.85342.
We’re watching for a bullish 4H candle close above 0.85930 for safer entries. The safest confirmation comes above 0.87060, which would confirm a break of both a key level and bearish structure.
This setup has potential to evolve into a long-term swing with 700+ pips on the table if held. Trade patiently and wait for clean confirmations.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.