The AUD/CAD pair has experienced a period of marked weakness in recent weeks, with a sequence of lower highs and lower lows that has consolidated a medium-term bearish trend. However, the latest developments on the H4 chart show the emergence of signals that deserve attention. Hello, I'm Andrea Russo, an independent Forex trader and prop trader with $200,000 in capital under management. Thank you in advance for your time.
🔍 Technical Analysis
After the decline, a key support area can be seen around the psychological threshold of 0.9100, where prices have slowed the bearish pressure.
Momentum indicators (RSI and MACD) show an oversold condition accompanied by a bullish divergence, often a prelude to a technical reversal or at least a pullback.
The latest H4 candles signal the entry of buying volumes, with a consolidation pattern that could transform into a rebound phase.
Australia remains exposed to a moderate economic cycle, but the recent decline in energy commodities has reduced the relative strength of the CAD, which is closely correlated with oil prices.
The Bank of Canada maintains a dovish tone, but the latest macroeconomic data shows signs of an economic slowdown that have dampened the Canadian currency's momentum.
Conversely, global risk sentiment appears to be improving, a factor that tends to favor cyclical currencies like the AUD.
In this scenario, AUD/CAD could begin a pullback phase from recent lows. The natural target lies in the nearest resistance areas, while the holding of current support remains the key to the validity of this scenario.
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If you’re looking for:
✅ Precise TAKE PROFIT
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🚀 Join Telegram Channel: t.me/swipeuptrading
📖 NEW BOOK - Avaiable on Amazon
Title: The Institutional Code of Forex
🌐 My Website: andrearussoforextrader.com
✅ Precise TAKE PROFIT
✅ Precise STOP LOSS
🚀 Join Telegram Channel: t.me/swipeuptrading
📖 NEW BOOK - Avaiable on Amazon
Title: The Institutional Code of Forex
🌐 My Website: andrearussoforextrader.com
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.