AUD/CAD has ended its consolidation phase and has resumed uptrend.
The pair has bounced off 38.2% Fib at 0.9723, broken stiff resistance at 0.9979 and is extending upside.
For a medium-term outlook, trend is bullish. We see scope for test of 1.0350 levels.
Weakness only below 23.6% Fib at 0.9817. Violation there could see drag till 0.9650 and then 0.9490 levels.
Medium-term: Buy on dips, SL: 0.9817, TP: 1.0170/ 1.0235/ 1.0350
The pair has bounced off 38.2% Fib at 0.9723, broken stiff resistance at 0.9979 and is extending upside.
For a medium-term outlook, trend is bullish. We see scope for test of 1.0350 levels.
Weakness only below 23.6% Fib at 0.9817. Violation there could see drag till 0.9650 and then 0.9490 levels.
Medium-term: Buy on dips, SL: 0.9817, TP: 1.0170/ 1.0235/ 1.0350
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Related publications
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.