AUDCAD: Structural Shift After Prolonged Bearish Trend
Hi!
AUDCAD previously traded within a clear bearish structure, forming lower highs and lower lows inside a descending channel. Toward the latter stage of the move, selling pressure began to weaken as downside momentum slowed and price struggled to print new lows, signaling seller exhaustion and early buy-side absorption.
Price then reacted from a key demand zone and broke above the descending trendline, confirming a structural shift. As long as price holds above this demand area, bullish continuation remains the preferred scenario, with the next resistance target near 0.9188. A decisive move back below demand would invalidate this outlook and suggest a return to bearish continuation.
Trade safely.
AUDCAD previously traded within a clear bearish structure, forming lower highs and lower lows inside a descending channel. Toward the latter stage of the move, selling pressure began to weaken as downside momentum slowed and price struggled to print new lows, signaling seller exhaustion and early buy-side absorption.
Price then reacted from a key demand zone and broke above the descending trendline, confirming a structural shift. As long as price holds above this demand area, bullish continuation remains the preferred scenario, with the next resistance target near 0.9188. A decisive move back below demand would invalidate this outlook and suggest a return to bearish continuation.
Trade safely.
Trade ativo
Trade fechado: objetivo atingido
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Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.