AUDCAD on the 1H chart is still trading within a corrective structure after the strong rally to the 0.9930 high. Instead of continuing higher immediately, the price began moving within a falling channel, indicating that momentum has slowed in the short term. The current structure looks more like a controlled pullback rather than aggressive selling.
At the moment, price is struggling to reclaim the upper boundary of the channel, while sellers continue defending the resistance zone near 0.9921. As long as the pair remains inside the channel, the correction phase is still active, and wave 4 may need more time to complete.
The downside support levels to watch during this correction are 0.98821 and 0.98518. Those areas could act as the completion zone for the current pullback before buyers attempt to regain control.
If wave 4 completes successfully and AUDCAD breaks back above resistance, the next upside targets come in at 0.99213, 0.99650, and 1.00240.
We will update further information soon.
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Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.