AUD/CAD has taken a chill capsule from its downtrend and it appears prefer it’s nonetheless ready for its subsequent path!

Assume this 4-hour vary resistance will maintain for an additional day?

Have a look!

AUD/CAD 4-hour Foreign exchange Charts by TV

In case you missed it, AUD/CAD began a downtrend in mid-January and is now buying and selling about 500 pips from its 2023 highs.

Quick ahead to immediately and AUD/CAD appears prefer it’s buying and selling in a spread.

For one factor, the easy shifting averages (SMAs) are shifting in a flat path as an alternative of tilting downwards.

For now, AUD/CAD is consolidating slightly below the .9100 psychological deal with that additionally marks the highest of a 150-pip vary on the 4-hour time-frame.

Other than the rejection at .9100, Stochastic can be egging on AUD bears with its “overbought” sign.

Vary playas who’re satisfied that AUD/CAD will maintain its vary can promote at present ranges and purpose for the .9025 mid-range or .8950 vary assist zones.

Assume AUD/CAD buying and selling above the 100 and 200 SMA signifies that the pair is able to break to the upside?

You too can anticipate a transparent breakout above the .9100 resistance and commerce a potential journey to the .9170 or .9215 inflection factors.

Whichever path you select to commerce, make certain to apply your finest threat administration strikes so that you get to commerce for an additional day!