AUDCAD Higher
I like AUDCAD higher here.
nice double bottom here and symmetry for the move up and down from this level.
AUD/CAD rate differentials have been moving higher for a while but the pair has been unable to benefit from this due to a fall in risk assets and commodities. For the time being we've had a bit of a small relief rally in some commodities and in risk so i think this may be a good time for AUDCAD to try moving higher. The narrative of recent has also been due to global growth worries and china covid worries, covid cases have been falling so this should help as well.
I am bullish AUD and CAD for a short period but since AUDCAD is more so a proxy to AUDUSD i think it still makes sense.
Not trading/investment advise, feedback welcome!
nice double bottom here and symmetry for the move up and down from this level.
AUD/CAD rate differentials have been moving higher for a while but the pair has been unable to benefit from this due to a fall in risk assets and commodities. For the time being we've had a bit of a small relief rally in some commodities and in risk so i think this may be a good time for AUDCAD to try moving higher. The narrative of recent has also been due to global growth worries and china covid worries, covid cases have been falling so this should help as well.
I am bullish AUD and CAD for a short period but since AUDCAD is more so a proxy to AUDUSD i think it still makes sense.
Not trading/investment advise, feedback welcome!
Note
think you take this out here, don't see it going too much higher
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.