AUDUCAD – D1 Timeframe
AUDCAD, on the daily timeframe, is currently reacting off the drop-base-rally demand zone. The trend seems bullish, as confirmed by the market structure break above the previous highs. The confluence from the 88% Fibonacci retracement level also provides a valid argument in favor of the bullish sentiment. Again, the confluences are;
- The bullish market structure;
- Retest of the trendline support;
- Drop-base-rally demand zone;
- 88% of the Fibonacci retracement.
Analyst’s Expectations:
Direction: Bullish
Target: 0.92379
Invalidation: 0.90272
