AUDCAD: WEEKLY SCENARIO

AUDCAD Technical Analysis: Weekly Chart

In the weekly charts, AUDCAD was trading in a down channel. AUDCAD is currently trading above all SMA except MA (50)

RSI is in the buying zone which indicates bullishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 0.89000 the resistance level is at 0.91000

AUDCAD was traded in a down channel before there is an upside breakout.

AUDCAD Technical Analysis: Daily Chart

In the daily charts, AUDCAD was trading in a down channel. AUDCAD is currently trading above all SMA.

RSI is in the neutral zone which indicates neutralness. MACD is currently below zero which indicates bearishness.

Its immediate support is 0.8950 the resistance level is at 0.91000

AUDCAD will trade in a down channel until there is a trend reversal.  

How to Trade AUDCAD this Week:

AUDCAD will follow the uptrend until its trend reversal. So, remain bullish on AUDCAD

TRADE SUGGESTION- BUY AT 0.90202, TAKE PROFIT AT 0.91000 AND STOP LOSS AT 0.89000