AUDCAD Descending Triangle: Key Support Levels to Watch
AUDCAD moved up from 0.9060 to reach 0.9375, and now forming a descending triangle pattern. This pattern usually appears when the price is making lower highs, meaning sellers are pushing it down, but there’s still a solid support level holding it steady, around 0.9165.
Currently, AUDCAD is trading at 0.9175, and it seems likely to keep dropping. The first level to watch is 0.9110, if the price breaks below this, it could continue down to 0.9060, where the previous rally began.
If sellers keep control, we might see more downward movement. But if support holds, there’s a chance for a bounce.
Currently, AUDCAD is trading at 0.9175, and it seems likely to keep dropping. The first level to watch is 0.9110, if the price breaks below this, it could continue down to 0.9060, where the previous rally began.
If sellers keep control, we might see more downward movement. But if support holds, there’s a chance for a bounce.
Note
First Target 0.9110 Reached! Aligning perfectly with our forecast.
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