AUDCAD Higher
I like AUDCAD higher here.
nice double bottom here and symmetry for the move up and down from this level.
AUD/CAD rate differentials have been moving higher for a while but the pair has been unable to benefit from this due to a fall in risk assets and commodities. For the time being we've had a bit of a small relief rally in some commodities and in risk so i think this may be a good time for AUDCAD to try moving higher. The narrative of recent has also been due to global growth worries and china covid worries, covid cases have been falling so this should help as well.
I am bullish AUD and CAD for a short period but since AUDCAD is more so a proxy to AUDUSD i think it still makes sense.
Not trading/investment advise, feedback welcome!
nice double bottom here and symmetry for the move up and down from this level.
AUD/CAD rate differentials have been moving higher for a while but the pair has been unable to benefit from this due to a fall in risk assets and commodities. For the time being we've had a bit of a small relief rally in some commodities and in risk so i think this may be a good time for AUDCAD to try moving higher. The narrative of recent has also been due to global growth worries and china covid worries, covid cases have been falling so this should help as well.
I am bullish AUD and CAD for a short period but since AUDCAD is more so a proxy to AUDUSD i think it still makes sense.
Not trading/investment advise, feedback welcome!
Note
think you take this out here, don't see it going too much higher
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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.