AUD/CAD Bullish Bounce Targeting 0.9100 and Above

2 min read
tarantula fx

tarantula fx

Head of Trading

Dear Traders,

The AUD/CAD has formed a bullish consolidation pattern straight above the POC zone.

0.9030-50 is the POC zone and we might see a bounce towards 0.9105 and 0.9150. At this point the price is supported above the W L3 which also adds to the bullish confluence. If the AUD strength continues, we should not see the price dropping to 0.9030. Have in mind that the pair is very slow as it makes only 38 pips of ATR(5) so the patience is needed for the price to develop.

The analysis has been done with the CAMMACD.MTF template.
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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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