AUDCAD likely to move upwards
AUDCAD is in an uptrend in the 4-hour timeframe and seems to be following a rising channel. In the short-term, it was in a downtrend in the 1-hour timeframe, where it was respecting a downward trendline. The price was unable to break the lower line of the channel and formed a very strong hammer candle. It went ahead and broke out of the downward trendline.
I see high chances of the price moving upwards.
I see high chances of the price moving upwards.
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